Petronas still open to re-enter Cambodia

Petronas President and CEO Tan Sri Shamsul Azhar Abbas said Malaysia’s national oil company, Petronas Nasional Bhd (Petronas), will study the merits of re-entering the Cambodian oil and gas sector (O&G) if a win-win deal can be struck with the Indochinese government. Petronas’ solely owned subsidiary in Cambodia under the name of Petronas Cambodia Co. Ltd. was set up in 1994 to trade petroleum products, and in the process established 19 petrol stations in the country. However, due to losses in itsoperations, the company closed down in 2010.
 
“At present, Petronas has no O&G operations in Cambodia. We continue to look for opportunities as in other countries but to date we have not identified [any] opportunity in Cambodia,” Shamsul said.
 
According to recent news reports, Petronas will re-enter Cambodia and has identified integrated chemicals as one of the possible ventures. The company’s Chemicals Group Bhd President and CEO, Dr. Abd Hapiz Abdullah said the company is planning to grow its regional presence in Myanmar and Cambodia in 2013. (January 21, 2013)