The demand for petroleum products in Cambodia is projected to rise to 4.8 million tonnes in 2030, up from 2.8 million tonnes in 2020, the country’s Minister of Mines and Energy, Suy Sem, said yesterday.
Speaking at the Oil, Gas and Power Cambodia 2022 conference here, Sem said, the demand will increase to 8.3 million tonnes in 2040.
“Further investments in this sector are needed, in order to respond to this growing demand,” he said.
Currently, Cambodia imports all of its petroleum products from Vietnam, Singapore and Thailand, as its seabed oil and gas reserves have not been tapped yet.
According to the Ministry of Commerce, the nation spent 971 million U.S. dollars on imports of petrol and diesel in the first five months of this year, up 57 percent from 617 million dollars over the same period last year.
Oil prices in Cambodia have soared since the Russia-Ukraine crisis burst out in Feb.
The Ministry of Commerce’s oil price list showed that, regular petrol costs 4,800 riel (1.17 U.S. dollars) per litre yesterday, while diesel costs 5,300 riel (1.3 dollars).
The figures indicated that the prices of regular petrol and diesel rose 6.6 percent and 25 percent, respectively, compared to the prices dated in early Feb.
Source: NAM News Network