Energy Ministry mulls more relief measures for oil refineries, traders
The Energy Ministry will closely monitor the oil demand situation this month before deciding whether to launch additional relief measures to help Thai refineries and oil traders, said minister Sontirat Sontijirawong.
The Covid-19 outbreak has prompted a sharp drop in demand for fuel worldwide, resulting in losses for local oil traders and refiners.
The ministry recently launched a relief measure for traders and refineries, allowing them to reduce their reserves of oil from a 21-day supply to a 15.5-day supply, starting from May 1. However, in 12 months’ time they will have to boost their supply to 18 days.
