NationThailand-Oct 8
Veerapat Kiatfuengfoo, deputy permanent secretary of the Ministry of Energy, says escalating wars in the Middle East could impact oil production and exports from the region. The Ministry of Energy, along with relevant agencies, is closely monitoring the situation to assess and prepare for any worsening of the conflict. Currently, the fuel supply is sufficient to meet the country’s needs. Thailand has 3.365 billion liters of crude oil in reserve, enough for 26 days, 2.055 billion liters of crude oil in transit, enough for 16 days, and 2.414 billion liters of refined oil, sufficient for 20 days. In total, the country has oil reserves and stocks that can last 62 days, he said. Regarding pricing, the Ministry of Energy will manage domestic oil prices to minimize fluctuations, primarily using the Oil Fuel Fund as a mechanism. The fund’s liquidity has improved, with its deficit decreasing. Therefore, the public is urged not to worry, as Thailand will not face fuel shortages, and prices will remain stable without excessive volatility. Previously, the ministry conducted an emergency energy management drill with all relevant agencies to implement measures and mitigate the potential impacts of an energy crisis. These include adjusting fuel use for electricity generation, maximizing domestic gas supply, and reducing demand. The public is encouraged to stay informed through official government channels and not to be overly concerned, Veerapat said. Read more at: https://www.nationthailand.com/news/general/40042185
