The Ministry of Commerce has urged the public to remain calm following news of U.S. energy major Chevron Corporation potentially divesting its Asian downstream assets. The ministry emphasized that any international corporate restructuring will not disrupt the Kingdom’s fuel supply or the operations of the popular Caltex service station network.
Routine Restructuring, Not an Exit from Service
On January 27, 2026, H.E. Penn Sovicheat, Secretary of State and Spokesperson for the Ministry of Commerce, clarified that the move is part of Chevron’s broader international strategy to streamline its portfolio. He reassured citizens and business owners that the 53 Caltex locations across Cambodia—which provide essential fuel, retail, and café services—continue to operate as usual.
“This is a standard international share divestment strategy,” H.E. Penn Sovicheat stated. He further noted that the Royal Government of Cambodia maintains a robust framework for national fuel security, ensuring that the energy needs of the population and the industrial sector are met without interruption.
The Strategic Value of Cambodia’s Energy Market
The clarification comes as Reuters reported that Chevron is in the final stages of a deal to sell its Singapore-based refining and distribution assets, potentially valued at over US$1 billion. The transaction, expected to close in the first quarter of 2026, involves significant bidders like Japan’s Eneos and Switzerland’s Glencore.
For international observers, the high level of interest from global energy giants in acquiring these assets—which include retail networks in Malaysia and Cambodia—underscores the strategic value of the Southeast Asian market. The transition to a new parent company could bring:
- Fresh Capital Injection: Potential for further modernization of existing station infrastructure.
- Diversified Supply Chains: Leveraging the global trading networks of companies like Glencore or Eneos.
- Enhanced Service Delivery: Continued integration of convenience stores and digital payment solutions.
Commitment to Economic Stability and Growth
The Ministry’s proactive communication reflects the government’s commitment to maintaining a stable business climate in Cambodia. By addressing public concerns early, the ministry reinforces investor confidence, demonstrating that the Kingdom’s regulatory environment is resilient to shifts in global corporate ownership.
As economic growth in Cambodia drives higher demand for transportation and industrial fuel, the government remains focused on ensuring a competitive and secure energy sector. This stability is vital for supporting the Kingdom’s broader development goals and its attractiveness as a hub for Foreign Direct Investment (FDI) in the ASEAN region.
FAQ: Chevron/Caltex Divestment in Cambodia
No. Caltex stations are continuing their operations as normal. Any sale would simply mean a change in ownership behind the scenes, while the brand and services are expected to remain functional for consumers.
Reports indicate that Japan’s largest refiner, Eneos, and the global commodity trading giant Glencore are among the frontrunners in negotiations for Chevron’s Asian assets.
Local fuel prices are regulated and influenced by global market trends rather than specific corporate ownership changes. The Ministry of Commerce continues to monitor and coordinate prices to ensure fairness for consumers.