Bangkok Post
Thailand determined to diversify oil imports
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
Amid concerns as negotiations to end the conflict in Iran hit a roadblock, Thailand has oil reserves to cover 117 days of consumption, says the Energy Ministry, piling on pressure to secure oil from regions other than the Middle East.
Key facts
- Amid concerns as negotiations to end the conflict in Iran hit a roadblock, Thailand has oil reserves to cover 117 days of consumption, says the Energy Ministry, piling on pressure to secure oil from regions other than the Middle East.
- US President Donald Trump, who rejected Iran's latest proposal to end the conflict, said the ceasefire with Iran is "on life support", according to media reports.
- "If the war is prolonged, oil purchased outside the Middle East may be insufficient and could become an issue," said Veerapat Kiatfuengfoo, deputy energy permanent secretary.
- However, he noted it is difficult to predict whether the world will face another serious oil shortage, as predicted by Chevron chairman and chief executive Mike Wirth.
- Mr Wirth said earlier this month the world may face physical oil shortages, with the Strait of Hormuz closure leading to supply disruptions akin to the 1970s, shaking economies globally, according to media reports.
Summary
US President Donald Trump, who rejected Iran's latest proposal to end the conflict, said the ceasefire with Iran is "on life support", according to media reports.
"If the war is prolonged, oil purchased outside the Middle East may be insufficient and could become an issue," said Veerapat Kiatfuengfoo, deputy energy permanent secretary.