On March 4, Mines and Energy Minister Keo Rottanak said at the Cambodia–ASEAN Business Summit that the government was accelerating plans for domestic petroleum processing, with the first refinery expected to be completed and operating within the following three years. Cambodia then had no crude-oil processing capacity and relied entirely on imported refined products from countries including Singapore and Vietnam. The government was holding detailed talks with multinational investors on investment and technology options.
Keo Rottanak said the project could proceed on schedule if commercial negotiations went smoothly. He said insufficient market size had prevented earlier projects: refinery construction had been discussed repeatedly while Hun Sen was prime minister, but domestic fuel consumption had not reached the break-even level.
The report said steady economic growth and industrialisation were gradually improving the conditions for a refinery. Industry observers said a domestic refinery could improve energy security, reduce exposure to international oil-price fluctuations and support related chemical, transport and packaging industries, providing new momentum for the economy.
