Friday, October 23, 2020

This may not be best time to launch bids on petrol-based: energy minister

Sep 07. 2020
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By The Nation

Energy Minister Supattanapong Punmeechaow has called on the Department of Mineral Fuels to see when it will be the best time to hold a new round of bidding for the exploration of petrol and concession on production, a source said.

Since the department plans to call the bids this year, the minister said he doubts if many potential bidders will join, given the low global demand of oil and low price of crude oil.

The minister believes it will be better to launch the bids once the global price of oil picks up, the source added.

The department had initially planned to announce the bid in April this year.

Thailand has not put petrol-related concessions up for bidding for the past 13 years.

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