Thailand Prepares for Oil Supply Disruptions Amid Middle East Conflict

Thailand's oil refineries are well-stocked and unlikely to face a shortage despite the ongoing war in the Middle East, according to the Department of Energy Business (DOEB).

The DOEB says shipping routes remain partially open, ensuring continued transport of crude oil and petroleum products. The Strait of Hormuz has not been completely closed, allowing vessels to pass through.

Thailand's refineries have adjusted their procurement strategies to reduce risks associated with Middle Eastern crude, which previously accounted for 58% of imports but now stands at 30%. Three major refineries under the PTT Group - Thai Oil, IRPC, and PTT Global Chemical - have diversified their sources.