Ministry of Mines and Energy Plans Investment in Refineries to Secure Oil Supply in Cambodia

• 28 November 2024
• Local News
• 173 Views

The Ministry of Mines and Energy has announced an initiative to invest in refinery projects to ensure a reliable oil supply for Cambodia. The ministry actively seeks investment partners for onshore and offshore oil exploration as part of this effort.

During the Ministry’s annual meeting on November 21, His Excellency Keo Rattanak, the Minister of Mines and Energy, addressed the importance of this refinery investment project. He stated, “In the near future, the Ministry plans to seek support from the Royal Government for our investment projects in the country’s refineries, which will include outlining the scope of our strategic oil reserves.” He also acknowledged that Cambodia currently maintains a relatively small oil market.

Additionally, the Minister reaffirmed the Ministry’s commitment to improving the safety standards surrounding the transportation, storage, distribution, and use of petroleum products, emphasizing the goal of attracting more refineries to the nation.

This initiative aligns with the government’s objective to identify potential investors for the continued development of Block A and to explore other blocks. Recently, four companies submitted proposals to advance oil exploration in Block A. (Read more)

The Ministry of Mines and Energy has indicated that the oil sector will generate approximately USD12.35 million for the state by 2024, further underscoring its significance to the Cambodian economy.

• Policy and Strategy
• Energy and Environment