Logo of Phnom Penh Post newspaper Phnom Penh Post - PM: No oil worries

PM: No oil worries

PM: No oil worries

Prime Minister Hun Sen has told foreign countries not to be concerned about

Cambodia's expected oil and gas revenues, claiming the Kingdom would not fall

victim to the "oil curse." According to local media, Hun Sen said in an address

to the Ministry of Public Works and Transportation that the oil revenues would

be used "properly" to expand rural roads into national roads across the country.

The government has refused to give exact figures about the oil reserves but a

United Nations Development Program study said the revenues, which are expected

to flow in 2009-2010, could provide over three times the development assistance

Cambodia received in 2005. The so-called "oil curse" implies that developing

countries rich in petrodollars fail to benefit because of corruption and

mismanagement.

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