News

Cambodia spends 1 bln USD for oil imports in 7 months

Cambodia had spent 1 billion U. S. dollars to buy petroleum from foreign suppliers in the first seven months of this year, up 22 percent from 817 million U.S. dollars at the same period a year ago, a report of the Commerce Ministry showed Saturday. The ...

http://www.dap-news.com/en/index.php?option=com_content&view=article&id=9579:cambodia-spends-1-bln-usd-for-oil-imports-in-7-months-&catid=1:local-news&Itemid=18

South China Sea outlook

The disputes over sovereignty in the South China Sea are approaching a tipping point. As former ASEAN secretary-general Rodolfo Severino said last month: “The disputes cannot be resolved anytime soon, if at all. The most that can be done is to prevent them developing into armed ...

http://www.mmtimes.com/2012/news/643/news05.html

Tougher disclosure rules for resources giants

US-listed corporations in Cambodia, including Chevron, Total, CNOOC and ConocoPhillips, that are engaged in extractive industries are now required to comply with additional transparency rules. The US Securities and Exchange Commission (SEC) implemented new regulations last week, two years after the legislation was initially passed by Congress. Cambodian monitors ...

http://www.phnompenhpost.com/index.php/2012082858310/Business/tougher-disclosure-rules-for-resources-giants.html

PTT offers $960 mln to buy out Sakari to increase coal assets

Thailand’s top energy company, has offered to buy out Singapore-listed Sakari Resources Ltd for $960 million as the oil and gas firm expands into coal to meet rising regional demand for the fuel On Aug. 13, Sakari announced a joint venture with the Royal Group of ...

http://www.reuters.com/article/2012/08/27/sakari-ptt-idUSL3E8JR02420120827

Pricey petrol punishes poor

Petrol prices have jumped by 150 riel (US$0.03) a litre, much to the dismay of Cambodia’s poor, as NGOs appealed to the government to take action. Rong Chhun, president of the Cambodian Confederation of Unions (CCU), issued a letter dated August 16 appealing to Prime Minister Hun ...

http://www.phnompenhpost.com/index.php/2012082058157/Business/pricey-petrol-punishes-poor.html

Trade Deficit Up 34 Percent On Last Year

Cambodia’s trade deficit in the first half of the year grew 34.31 percent compared with the same period in 2011, reaching $1.36 billion, according to data released by the Ministry of Commerce. Though revenues earned from exports grew 12.13 percent to about $2.50 billion, a growing ...

Phnom Penh Asean Meeting Braced for More S China Sea Talks

A dispute over territory in the South China Sea is once again set to hang over talks when China and the U.S. join in on a week of high-level Asean meetings that start in Phnom Penh on Friday. So far, the Ministry of Foreign Affairs has ...

Chevron aims for 2016

Oil production in Cambodia may not begin until 2016, or at least three years after the originally appointed date, Chevron officials reportedly said at a Ministry of Environment meeting on Friday. Government officials yesterday confirmed the feasibility of the time frame. If Chevron Overseas Petroleum Cambodia gained ...

http://www.phnompenhpost.com/index.php/2012070257137/Business/chevron-aims-2016.html

Chevron Not ready to Pump Oil in December 2012

The chevron oil company announced it is not ready to pump offshore oil in Block A in Cambodia. Mr. Steve Glick, Chevron President said: “the company is not ready to pump oil in Block A offshore Cambodia on the set-date of December 2012, complaining that more tasks need to be completed, but expressed ...

http://thesoutheastasiaweekly.com

Government eyes fuel taxes

The government plans to review fuel import taxes in the wake of soaring prices at the pump over the past few weeks, an official said yesterday. Cheam Yeap, Cambodian People’s Party lawmaker and chairman of the finance and banking commission, said the government will look into ...

http://www.phnompenhpost.com/index.php/2012041055530/National-news/government-eyes-fuel-taxes.html

Oil production delayed

The Kingdom’s much-hyped deadline of tapping its first oil reserves by December 12 2012, or 12-12-12, will not be met, a government spokesman said yesterday. Chevron Overseas Petroleum (Cambodia) Ltd, which is now exploring the Kingdom’s offshore Block A in the Gulf of Thailand, has notified ...

http://www.phnompenhpost.com

Cambodia eyes Iranian oil imports

Deputy Prime Minister Sok An has told Iran’s ambassador to Cambodia that once an oil refinery in the country is operational, Cambodia would be able to import crude oil from Iran and export refined oil products to China, the Council of Ministers said on its ...

Sok An, Thai minister to discuss disputed waters

Deputy Prime Minister Sok An will meet Thai Energy Minister Pichai Naripthaphan on Thursday to discuss the possibility of extracting oil from disputed maritime areas in the Gulf of Thailand, Council of Ministers spokesman Phay Siphan said yesterday. Mr Siphan said that Mr Sok An, who ...

Moody's offers update on Kingdom's credit outlook

Improved fiscal management and preparation for a decline in foreign aid would help increase Cambodia’s credit rating, according to a quarterly credit opinion from Moody’s Investor Service, which maintained a stable outlook for the country. Reduced exposure to crisis and stagnation in Western economies, continued foreign ...

http://www.phnompenhpost.com/index.php/2011120153072/Business/moodys-offers-update-on-kingdoms-credit-outlook.html

Ministry questions oil assessment

Cambodia’s Ministry of Environment told a Japanese oil company yesterday to better define the location of its initial onshore operations given the potential impact on the local population and environment. The Ministry of Environment has required Japan Oil, Gas and Metals National Corporation to specify where ...

http://www.phnompenhpost.com/index.php/2011111552750/Business/ministry-questions-oil-assessment.html

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