A law requiring companies processing petroleum from Cambodia's oilfields to provide a maximum of 25 per cent to meet local needs has been signed off by King Norodom Sihamoni.
However, petroleum exports can be banned in the event of a shortage to local supply, states the Law on the Management and Production of Petroleum, a copy of which was obtained by The Post on Sunday.
The Post reported in May that KrisEnergy Ltd, the Singapore-based firm that operates Cambodia’s Block A offshore oilfield, claimed that the first drop of oil will be extracted late this year, with commercial production scheduled to begin next year.
The law was approved by King Sihamoni on July 12 after being passed by the Senate in late June.
It has nine chapters and 72 articles and is "effective immediately".