BANGKOK, Thailand – Energy Minister Auttapol Rerkpiboon said Thailand has about 95 days of oil reserves, and the government is implementing several measures to boost energy security amid rising global supply risks.
Auttapol said existing oil reserves could sustain the country for around 65 days if imports were completely disrupted. Additional supplies secured from sources outside the Middle East would provide roughly another 30 days of coverage, bringing the total reserve estimate to about 95 days. Authorities are also working to secure additional shipments expected in the coming months and to review additional import options from partners, including the United States, South Africa, and Malaysia.
To protect the domestic supply, the government has temporarily suspended oil exports, except for shipments to Laos and Myanmar, due to existing energy cooperation with both countries. Oil traders have also been instructed to increase mandatory stockholding levels from 1 percent to 3 percent to expand national reserves. Diesel prices will be frozen for 15 days through the Oil Fuel Fund, while limited support measures will help reduce the impact of gasoline price adjustments.
Authorities are also preparing contingency plans to ensure the energy supply is maintained. These include securing additional liquefied natural gas from alternative suppliers, increasing electricity generation from hydropower and coal, and expanding domestic gas production where possible. Officials said the Oil Fuel Fund currently has sufficient capacity to help stabilize fuel prices if the situation worsens, while provincial authorities have been instructed to prevent fuel hoarding at service stations. (NNT)
