Cambodia’s Only Oil-Producing Company Is About To Go Bust

Just a few months after pumping its first-ever oil, Cambodia’s just-launched oil production faces an uncertain fate after the government’s partner in the operations filed for liquidation amid inability to service debts and underwhelming production rates. Singapore-based KrisEnergy Ltd, which was developing the Khmer basin in the Gulf of Thailand, also known as Block A, said last week it was “unable to pay its debts based on actual and/or contingent liabilities and will proceed to liquidation.” One reason for the decision was the significantly lower…