Bangkok Post
Oil export ban set to end as reserves surge
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Authorities are considering lifting a temporary ban on the export of refined oil, citing secure reserves and a growing surplus in storage facilities, according to Sarawut Kaewtathip, director-general of the Department of Energy Business (DOEB).
Key facts
- Authorities are considering lifting a temporary ban on the export of refined oil, citing secure reserves and a growing surplus in storage facilities, according to Sarawut Kaewtathip, director-general of the Department of Energy Business (DOEB).
- Six domestic oil refineries are operating with storage facilities filled to nearly half their capacity.
- Mr Sarawut warned if the ban remains in place, excess stock could lead to mounting storage costs.
- The DOEB is expected to initially allow the export of jet fuel. Although global demand for aviation fuel has slowed due to weaker tourism, many countries still face shortages because of limited refining capacity.
- Thailand's oil consumption has been highly volatile since the war in Iran began, he said.
Summary
Six domestic oil refineries are operating with storage facilities filled to nearly half their capacity.
Mr Sarawut warned if the ban remains in place, excess stock could lead to mounting storage costs.