Thailand suspends oil exports amid Middle East tensions
Thailand suspends oil exports amid Middle East tensions
Thailand’s Minister of Energy Auttapol Rerkpiboon announced that the ministry has ordered an immediate suspension of oil exports in response to Iran’s closure of the Strait of Hormuz.
According to the announcement on Monday, an emergency energy monitoring center has been established to closely track developments in the Middle East and assess potential impacts.
Auttapol stated that relevant agencies have been instructed to monitor effects on Thailand’s oil reserves and prices, and formulate short and long-term response plans.
These include activating the oil fund to subsidise domestic fuel prices, easing pressure on consumer prices and living costs caused by rising global oil prices.
The ministry also plans to boost natural gas production in the Gulf of Thailand and delay maintenance at gas fields.
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Meanwhile, coal-fired and hydropower plants have been ordered to operate at full capacity to secure energy supply.
The minister confirmed that Thailand’s oil reserves remain sufficient, and the current situation in the Middle East has not yet affected domestic oil stockpiles or prices.
However, the public is urged to conserve energy.
As of Sunday, Thailand holds approximately 4.877 billion liters of crude oil and refined products, enough for about 38 days of domestic demand, including oil in transit and other sources.
The total reserves stand at around 7.660 billion liters, covering roughly 60 days of consumption.(Xinhua/NAN)
