Bangkok: The Department of Special Investigation (DSI) is preparing to take legal action against six oil refineries accused of delaying oil deliveries and stockpiling oil. The Department of Energy Business has filed charges against these refineries, alleging that they delayed deliveries and potentially hoarded oil, potentially manipulating tax and prices by concealing shipping documents.
According to Thai News Agency, the investigation has prompted the issuance of summonses for refinery executives. The Department of Energy Business is working closely with local administration, security forces, the Royal Thai Police, the Ministry of Justice, and the DSI to conduct daily inspections of oil traders' stockpiles. This initiative aims to prevent hoarding and investigate the causes of recent oil shortages.
In an effort to reduce reliance on foreign oil imports, the Department of Energy Business is also promoting the use of biofuels derived from domestic agricultural products, such as B20 biodiesel and E20 gasohol. The department assures that the quality of these fuels meets international standards.
Mr. Kongkrapan Intarajang, CEO and President of PTT, commented on the DSI's preparations to file charges, citing evidence of market manipulation and speculative trading. He emphasized that PTT's refineries do not have the storage capacity to hoard oil and expressed readiness to cooperate with authorities to ensure transparency.
Chaiwat Kovavisarach, CEO of Bangchak Group, clarified that the incident was a technical error, not oil hoarding. Thai Oil Public Company Limited and PTT Global Chemical Public Company Limited (GC) have both reaffirmed commitments to energy security and cooperation with government inspections.
IRPC Public Company Limited has reiterated its dedication to good governance and pledged full cooperation with the government to investigate the matter. The company assures that its refinery operations adhere to international standards, ensuring transparency and traceability.