AMID oil shortage fears Energy Minister Auttapol Rerkpiboon said today (Mar. 17) that Thailand has reached agreements to buy nearly 2 million barrels of crude oil from Angola and over 600,000 barrels from the United States, PPTVHD36 said.
This will ensure that there is enough crude oil supply to meet refining capacity.
While the US has exempted several countries from its ban on buying oil from Russia for 30 days, this is only for oil already loaded on tankers which was previously sold illegally, Auttapol said, adding the payment system needs to be reviewed with there still being risks involved and Thailand can acquire crude oil from other sources.
Regarding contingency plans to cope with energy consumption during Songkran Festival next month, when many people will travel back to their hometowns, the minister said he has ordered oil refineries to increase production capacity, with some exceeding 100 percent, to ensure sufficient supply.
“What I want to ask the public is not to panic about a shortage of oil in Thailand. The problem is only with transportation. Therefore, there is no need to hoard oil,” he said.
The ministry has also not ordered 500 baht per fill-up limit at petrol pumps with this being on-site management by the owners with the shortfall likely being due to transportation delays.
Meanwhile Deputy Prime Minister-cum-Transport Minister Pipat Ratchakitprakarn said that the price of petrol and diesel will start rising from tomorrow (Mar. 18) with the latter capped at 33 baht a litre after the expiry of a 15-day price cap at 29.94 baht per litre, according to Naewna newspaper and Reuters.
CAPTIONS:
Top and Front Page – A car being filled at a petrol pump. Photo – Sanook.com
Insert – Energy Minister Auttapol Rerkpiboon. Photo – PPTVHD36
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