2024 Cambodia is shifting its fuel imports towards Singapore and Malaysia as supplies from Vietnam and China tighten, Energy Minister Keo Rottanak confirmed in an interview this week. The move comes amid global shortages triggered by the US-Israeli war on Iran, which has disrupted oil flows worldwide. The country, home to nearly 18 million people, saw about a third of its 6,300 petrol stations close last week due to uncertainty over prices. Most have since reopened, with fewer than 6% still shut. Vietnam and China have restricted exports until the end of March to safeguard domestic supplies, while Thailand halted shipments last July following the outbreak of armed conflict with Cambodia. In 2024, Thailand and Vietnam together accounted for more than 60% of Cambodia’s petroleum imports, with Singapore and Malaysia supplying nearly a third and China around 7%. With its traditional suppliers pulling back, Phnom Penh is leaning more heavily on Singaporean and Malaysian exports. “We’re still able to import a little bit from China,” Rottanak said, adding that partnerships with global firms such as Total and Chevron have helped cushion the impact. Current stockpiles, he noted, remain comparable to historical levels. Data from Kpler shows gasoline and diesel exports from Singapore and Malaysia to Cambodia rose 25% in the first 18 days of March compared with a year earlier, though they were down 40% from late February. Cambodia, which lacks a refinery, typically holds less than a month’s supply of fuel under normal conditions. Rottanak stressed that renewable energy has helped shield the country from the worst of the crisis. Electrification projects since 2022 have kept overall fuel demand stable, reducing exposure to oil shocks. “Because of renewable energy, we are in a way less susceptible to 100% shock from the oil in the Middle East,” he said. He added that the crisis underscores the need for ASEAN countries to accelerate plans for a regional power grid, which would strengthen resilience against future disruptions. For now, Cambodia’s reliance on Singapore and Malaysia highlights both the fragility of regional energy flows and the urgency of diversifying supply in an increasingly volatile global market. -2026-03-19
