Cambodia Records 9.5% Decrease In 2023 Oil Imports
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B2B Cambodia
on
Cambodia recorded a significant decline in oil imports during the first eight months of 2023 according to a report released by the General Department of Customs and Excise (GDCE) on August 18, 2023
The total value of oil imports to Cambodia dropped to USD $2.25 billion, marking a 9.5 per cent decrease from the USD $2.52 billion recorded in the same period in 2022, as reported by Khmer Times.
The former Minister of Mines and Energy, Suy Sem, stated in 2022 that Cambodia's demand for oil and gas was projected to rise to 4.8 million tonnes in 2030 and up to 8.3 million tonnes in 2040.
Penn Sovicheat, spokesperson for the Ministry of Commerce, told the Khmer Times that fuel prices in Cambodia are determined by international market prices. However, Cambodia continues to display a robust supply of fuel in the domestic market.
The total value of oil imports to Cambodia dropped to USD $2.25 billion, marking a 9.5 per cent decrease from the USD $2.52 billion recorded in the same period in 2022, as reported by Khmer Times.
The former Minister of Mines and Energy, Suy Sem, stated in 2022 that Cambodia's demand for oil and gas was projected to rise to 4.8 million tonnes in 2030 and up to 8.3 million tonnes in 2040.
Penn Sovicheat, spokesperson for the Ministry of Commerce, told the Khmer Times that fuel prices in Cambodia are determined by international market prices. However, Cambodia continues to display a robust supply of fuel in the domestic market.