Bangkok: Ekaniti confirms that Thailand still has enough oil to last for at least 96 days. Ekniti Nitithanprapha, Deputy Prime Minister and Minister of Finance, addressed public concerns over the recent tensions in the Middle East, which have led to a surge in people rushing to fill up their tanks. Despite this rush, major retailers emphasized that they are managing the situation normally, although some gas stations experienced temporary shortages due to transportation problems. They have pledged to expedite the distribution of oil throughout the country.
According to Thai News Agency, Ekniti spoke to alleviate fears regarding domestic oil supplies. He confirmed that Thailand's oil reserves are sufficient to meet the country's needs, with crude oil reserves capable of supporting domestic demand for at least 96 days. He assured the public that there will be no oil shortage.
Mr. Sarawut Kaewtathip, Director-General of the Department of Energy Business, reported that the department, in collaboration with provincial energy offices, conducted inspections of oil stocks at 53 warehouses and 589 tanks. The total reserves for commercial use amount to 1.4 billion liters, while legally mandated reserves stand at 3.4 billion liters. These combined represent approximately 39 days' worth of reserves. Additionally, oil currently being transported into Thailand will last for another 27 days, and an extra 30 days' worth of oil has been secured in advance. This results in a total of at least 96 days of reserves, deemed sufficient for domestic use.
Sales have risen significantly due to increased demand for fuel in recent weeks, leading to delays in transportation to some service stations. The Prime Minister has instructed the Ministry of Energy to coordinate with relevant agencies to expedite fuel deliveries and ensure sufficient availability at service stations.
PTT, leveraging its global network, has prepared contingency plans for potential crises, allowing oil imports from alternative sources bypassing the Strait of Hormuz, such as the United States and West Africa. PTT confirms that Thailand's refining capacity exceeds 60% of its domestic demand, ensuring adequate production of refined oil products in reserve.
Major oil companies have confirmed normal management of oil supplies with sufficient quantities available. They are gradually transporting oil to service stations nationwide to accommodate the increasing customer demand. Some gas stations, around 2-3%, are still experiencing temporary fuel shortages due to transportation limitations, but efforts are underway to resolve the issue and restore normalcy.