Logo of Phnom Penh Post newspaper Phnom Penh Post - Imports of petroleum on the rise last quarter

Imports of petroleum on the rise last quarter

Imports of petroleum on the rise last quarter

Cambodia’s petrol bill topped $440 million at the end of the first quarter, up 11 per cent from $397 million during the same period last year, according to data from the Ministry of Commerce.

The data show Cambodia imported a total of 453,000 tonnes of petroleum during the first quarter this year, 10 per cent more than the amount imported during the three months of 2013.

Srey Chanthy, an independent economist, said that the country’s economic expansion was behind the increase in fuel demand.

“The economy may not be the strongest, but it continues performing very well. That’s why we need to import more to supply domestic production and to support the demand of transportation,” Chanthy said.

“With improvements within the agricultural sector, but a shortage in the labour force, we need to import more machinery and equipment, which all need to consume petrol despite the fact that our country doesn’t produce its own petroleum,” Chanthy added.

Cambodia spends over $1 billion on more than one million tonnes of oil imports per year. The majority of imports come from Vietnam, Singapore and Thailand.

Meanwhile, plans of US-based energy giant Chevron to extract oil from the Gulf of Thailand to one day aid in domestic production continue to be stalled due to negotiations with the Cambodian government over taxation issues.

Cambodia Petrochemical Company (CPC) plans to build an 80-hectare oil refinery worth an estimated $2.3 billion in Preah Sihanouk and Kampot provinces.

Construction of the refinery, however, has been delayed and it is not expected to be operational until 2016.

MOST VIEWED

  • Hun Sen to ‘step down’ if he loses Sam Rainsy bet over Kem Sokha

    Hun Sen has promised to step down as prime minister while opposition figure Sam Rainsy pledges to turn himself in as forfeits if the long-term political rivals lose a “bet” over the future of former opposition leader Kem Sokha, who is on bail awaiting trial

  • UAE prince seeks to invest in Cambodia

    The UAE has expressed interest in Cambodian oil and gas exploration. Minister of Mines and Energy Suy Sem said this was the result of his discussions with Sheikh Ahmed bin Dalmook bin Juma al-Maktoum, a member of the royal family who visited him on Wednesday.

  • Kem Sokha off the menu as Smith talks judicial independence

    The UN Human Rights Council’s (UNHRC) Special Rapporteur on Human Rights in Cambodia, Rhona Smith, on Tuesday, focused on “judicial independence” at a meeting with Ministry of Justice officials. Both Smith and ministry spokesman Chin Malin said the former opposition Cambodia National Rescue Party (

  • Smith calls for ‘release’ of Sokha as visit ends

    At a press conference to conclude her 11-day visit to Cambodia, UN Special Rapporteur for Human Rights in Cambodia Rhona Smith on Thursday called for treason charges against former opposition leader Kem Sokha to be dropped and for him to be released from “restricted detention”.