FREE homepage on KhmerCity.net!
Archive for the 'Business' Category
Pages (5): « 1 2 3 4 [5]
(5 votes, average: 4 out of 5)
Loading ...Phnom Penh (AsiaNews/Agencies) – Oil companies have begun lining up for licenses to tap Cambodia’s vast oil and gas fields, but experts are wondering whether this new wealth will be a blessing for the country. Firms from China, Japan, South Korea, Malaysia, Singapore, Kuwait, Australia, and France have come knocking on officials’ doors to get permits to explore and develop the country’s energy riches. US giant Chevron Corp. has already drilled in the Gulf of Thailand in the last two years and found oil in five oil wells.
According to several studies conducted by the United Nations, World Bank, Harvard University, and other reliable institutions, Cambodian reserves could contain as many as 2 billion barrels of oil and 10 trillion cubic feet of gas. Based on the current world price of oil and gas, this may provide Cambodia with annual revenues of US$ 6 billion a year over the next two decades, an amount more than the country’s gross domestic product which is only about US$5 billion a year.
Comments (0) - Leave a CommentRelated Entries
(9 votes, average: 4.11 out of 5) Loading ...Chinese companies here on Friday signed several agreements with Cambodian government officials on building a hydropower plant and an electricity transmission network for the kingdom.
The plant in Battambang province will cost 190 million U.S. dollars and can generate 465 million kilowatt-hour of electricity per year, said Deputy Prime Minister Sok An while addressing the ceremony.
Complete story
Related Entries
Pages (5): « 1 2 3 4 [5]
