Bangkok Post
Ban on refined oil exports to continue
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Thailand's energy authorities have confirmed that the country will continue its ban on refined oil exports, despite mounting pressure from domestic refineries struggling with limited storage capacity.
Key facts
- Thailand's energy authorities have confirmed that the country will continue its ban on refined oil exports, despite mounting pressure from domestic refineries struggling with limited storage capacity.
- The decision comes as conflicts in the Middle East persist, raising concerns about the stability of global energy supplies.
- With refining capacity exceeding demand by more than 10%, the exemption has reduced stockpiles, which currently tally about 300 million litres, according to officials.
- PTT Global Chemical Plc and Bangchak Sriracha Plc have each reduced refining capacity by 15%, according to the Department of Energy Business.
- On June 11, diesel was priced at 40.8 baht per litre, up 33% from pre-war levels of 30 baht
Summary
The decision comes as conflicts in the Middle East persist, raising concerns about the stability of global energy supplies.
An official from the Energy Ministry who requested anonymity said the ongoing tensions between Iran, Israel and the US mean the situation is still volatile. Disruptions in the supply of petroleum, chemicals and liquefied natural gas (LNG) from nations around the Strait of Hormuz remain a serious concern.