PTT assures sufficient domestic energy supply amid Middle East unrest
PTT says it has adjusted oil and gas procurement plans, boosted logistics and coordinated with partners to ensure Thailand has sufficient energy supplies amid the Middle East conflict.
PTT Plc said that, amid the prolonged conflict in the Middle East involving Iran, the United States and Israel, which could affect energy supply systems in the global market, PTT and its subsidiaries have been closely monitoring, analysing and assessing the situation.
They have also systematically adjusted the country’s energy management plans in line with government policy to ensure that Thailand has sufficient energy to meet the needs of the public and the economy.
Regarding crude oil procurement, PTT said its international trading business units, located around the world, have extensive experience in and remain active in the global crude oil market.
The company has managed the situation by switching product receipt ports to locations outside the Strait of Hormuz, while also adjusting its crude oil procurement plan to secure additional supplies from other sources worldwide, including Africa and the Americas.
It has also been coordinating with trade partners to confirm clear and continuous delivery plans, while maintaining ongoing crude oil procurement so that refineries within the PTT Group, which account for more than 60% of the country’s refining capacity, can continue operating as planned.
As for natural gas procurement, PTT said it has asked natural gas producers in the Gulf of Thailand and Myanmar to operate at full capacity and postpone their annual maintenance schedules for the time being. It is also seeking additional spot LNG cargoes, as assigned by the Energy Regulatory Commission (ERC), to replace missing LNG volumes.
For service stations and oil depots, PTT said they remain open seven days a week, with oil tankers being continuously dispatched to service stations. Each delivery round takes around 12 to 24 hours, depending on distance.
Due to demand rising well above normal levels during this period, sales volumes at PTT Station outlets have increased by two to three times, requiring more frequent delivery rounds.
As a result, some stations may temporarily run out of fuel at certain times. In this regard, PTT Oil and Retail Business Plc is coordinating with all relevant parties to manage supply and fully support demand.
Finally, the company called on the public to use energy efficiently, avoid hoarding, and said PTT Station outlets remain committed to serving the public continuously and thoroughly.
