Puma Energy said in a statement on 5 October that it was exiting Myanmar and selling its stake in Puma Energy Asia Sun (PEAS) and minority share in National Energy Puma Aviation Services (NEPAS) to a “locally owned private company”.

Through PEAS and NEPAS, Puma Energy in partnership with Myanmar Petrochemical Enterprise has been the main supplier of aviation fuel to the country since it commenced operations in 2015.

Following political changes in Myanmar in February 2021, PUMA Energy had suspended its operations, and its board of directors decided to leave the country earlier this year. The sales purchase agreement was signed by Puma Energy on October 5.  

After France’s Total Energies and the US’s Chevron announced the withdrawals of their operations in Myanmar on January 21 this year, more businesses with foreign investments have also been leaving the country since February 1.