11 February 2015
Prime Minister of the Kingdom of Cambodia
advised here this morning the minister of economy and finance to examine the
possibility to buy more petroleum for reserve.
The oil production cost is about US$54 per
barrel, while the oil price on the international market is only US$50 per
barrel. There may be something behind the sharp drop of oil prices, so we have
to buy more for reserve. Cambodia’s petroleum annual consumption has reached
some 1.5-2 million tons, and the cheapest price at the local market is now
3,300 Riel (US$0.82) per liter and the most expensive is around 3,950 Riel
(US$0.98) per liter.
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