Bangkok Post
Refiners adjust sourcing as war rattles markets
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Thailand's major oil refineries continue to operate smoothly and supply the nation with refined oil despite escalating conflict in the Middle East, according to the Federation of Thai Industries' Petroleum Refining Industry Club.
Key facts
- The club noted that imported crude oil accounts for 90% of Thailand's total oil consumption
- Traditionally, nearly 70% of this crude has originated from the Middle East.
- Thailand's major oil refineries continue to operate smoothly and supply the nation with refined oil despite escalating conflict in the Middle East, according to the Federation of Thai Industries' Petroleum Refining Industry Club.
- The assurance comes as global energy markets brace for prolonged instability following the closure of the Strait of Hormuz, a critical shipping route for oil and gas.
- The proportion of crude sourced from the Middle East has dropped from nearly 70% under normal circumstances to just 30%, with shipments rerouted through ports outside the Strait of Hormuz, she said.
- Gas from the Gulf of Thailand, once the backbone of supply at 70%, has fallen to 54%
Summary
The assurance comes as global energy markets brace for prolonged instability following the closure of the Strait of Hormuz, a critical shipping route for oil and gas.
The club noted that imported crude oil accounts for 90% of Thailand's total oil consumption. Traditionally, nearly 70% of this crude has originated from the Middle East.