May 16th, 2013, The Cambodia DailyWith the potential for vast state revenues from oil extraction and mining in coming years, Cambodia is currently failing to manage its nascent extractive industries according to a think tank. New York-based Revenue Watch Institute yesterday launched its 2013 Resource Governance Index, which included Cambodia for the first time.... continue
April 4th, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Economics, Energy, Environment & Natural Resources, Extractive Industries, Foreign Aid, Foreign Investment, Hydroelectricity, Industry, Infrastructure, International Relations, Land Tenure, Mining, Natural Gas, Oil, Technical Assistance
Prime Minister Hun Sen will travel to China on Saturday to meet with the rising superpower’s new leadership, in a trip the government expects to yield nearly $2 billion in loans and aid.
Most significantly, the Government is hoping to secure Chinese funding for a 1.67 billion oil refinery project in Kampot province, which would ensure China’s prime position in Cambodia’s yet-to-take-off oil industry. …
The statement [from the Ministry of Foreign Affairs and International Cooperation] lists eight deals including a memorandum of understanding between the National Bank of Cambodia and China Banking Regulatory Commission, an “agreement on economic and technical cooperation” worth 48.38 million, more than $73 million in concessional loans for an irrigation project in Kompong Thom province and a bridge in Kandal province.
According to the statement, the government also expects to sign a memorandum of understanding on a 5-million-ton-a-year oil refinery project, involving China Development Bank and China Export and Credit Insurance Corporation, both Chinese state-owned companies, to the tune of $1.67 billion.
China’s development bank is known as one of China’s “policy banks”- meaning that it gives loans in support of Chinese foreign policy. Such banks have funded Chinese-built hydropower dams in Cambodia.
In December, China Perfect Machinery Industry Corp.- which is majority owned by state-owned industrial giant SINOMACH- and Cambodian Petrochemical Company- which is chaired by cigarette magnate Kong Triv- agreed that work would begin on the oil refinery this year. …
Two Chinese companies, China National Offshore Oil Corporation and China Petrotech Holdings ltd., have been grated exploration blocks off Cambodia’s coat to search for oil and gas. …
Simon Lewis and Phorn Bopha, P.1
January 11th, 2013, Bangkok Post, Business & Commercial Development, Construction, Disputed Land, Disputed Waters, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Land Tenure, Natural Gas, Oil
Energy supplies will be more secure once territorial disputes between Thailand and Cambodia are resolved, Department of Mineral Fuels director-general Songpob Polchan said on Friday.
Mr Songpob said that the sooner Thailand and Cambodia are able to work out their differences, the sooner they can exploit natural gas reserves and ensure energy security, especially with energy consumption rising in both countries every year.
He said the border dispute around the Preah Vihear temple is unrelated to a separate maritime dispute. Even if the border problem has been settled and drilling concession has been granted, it will be another 10 years before the gas could be extracted. He urged the government to consider public sentiment on the issue. …
A Cambodian NGO believes that investment by Thailand’s PTT oil conglomerate in petroleum projects in the region would promote competition and benefit consumers.
Thailand’s largest petroleum firm said lastThursday it is currently studying options for petrochemical and oil refinery projects in three Asean countries — Cambodia, Indonesia and Myanmar. …
Benefits from ‘black gold’- Revenue from Cambodian oil fields could provide a big boost to development, if it’s done right
If Cambodia’s oil and gas sector is well managed, and transparent, it could provide the country a golden opportunity for investment, development and poverty reduction, said independent economist Chan Sophal, who spoke at a recent gathering looking at the economies of oil-producing countries.
Chan Sophal said crucial areas such as human resource development, agricultural production improvements and infrastructure construction, such as roads and irrigation systems, need large investments, which oil and gas could provide. …
Cambodia spent $1.22 billion to purchase petroleum from foreign suppliers in the first nine months of this year, a 18 percent rise compared with $1.03 billion it spent during the same period last year, a Commerce Ministry’s report showed Monday. …
Global Times Staff
Cambodians for Resource Revenue Transparency (CRRT) will host a one-day National Conference Nov. 2 on the Best Practice of Governance in Extractive Industries and Revenue Management.
The conference, to be attended by representatives from the Association of South East Asia Nations (ASEAN), will also include representatives of Cambodian government ministries, industry experts, researchers, university students, national and international non-governmental organizations, embassies, donors, development partners and members of the media and the private sector. The event will take place at the Cambodiana Hotel in Phnom Penh….
“This conference is an important event to best build common understanding among government, the private sector and the public on important details about oil, gas and mining development in Cambodia,” said Chhay Sarath, Executive Director of CRRT.