 "crude oil, petroleum")
Woodside Petroleum Ltd said on Thursday it will exit its Myanmar operations citing deteriorating human rights situation, nearly a year after a coup plunged the Southeast Asian nation into turmoil.
The Australian gas producer will now begin formal procedure to exit the exploration assets it holds with state-owned Myanma Oil and Gas Enterprise and other entities including China National Petroleum Corp and Total, among others.
Woodside said a non-cash expense associated with the withdrawal would hurt its fiscal 2021 net profit after tax by about $138 million, in addition to the $71 million exploration expense for one of the oil
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