P C Siam denies fuel hoarding, vows to clear name

P C Siam Petroleum has denied allegations that it hoarded fuel in Surat Thani, saying recent reports contained inaccuracies that have seriously damaged the company’s reputation and business.

At a press conference on Monday (April 6), Lt Col Jamnong Wibulsilp, the company’s general manager and representative, appeared alongside legal counsel to clarify the company’s position following reports linking it to alleged stockpiling in the province.

He said P C Siam Petroleum, a fuel trader licensed under Section 7, has always complied strictly with the law and submitted complete information to authorities.

Company says reports contained inaccuracies

Lt Col Jamnong said parts of the recent coverage were inaccurate and had created misunderstanding about the company’s operations.

He said the company had been unfairly affected by claims that it had engaged in improper conduct, adding that P C Siam had always operated within the legal and regulatory framework governing the fuel trade.

Firm denies diesel hoarding allegation

He specifically rejected reports that the company had hoarded 2 million litres of diesel, saying the fuel in question was actually gasoline 95 held in storage as part of normal business operations.

According to the company, the stock had been purchased from refineries and stored pending normal delivery to customers. Lt Col Jamnong said the company’s purchase, sales and inventory accounts were all properly recorded and that the stock levels reflected standard commercial practice rather than any attempt to seek improper profit.

P C Siam pledges full cooperation with probe

Lt Col Jamnong said provincial officials had inspected the company’s depot continuously from March 27 to 29 and returned for another inspection on April 1.

He said those inspections had not uncovered any facts or evidence indicating fuel hoarding or any breach of the law. Even so, he said the company remained ready to cooperate fully with all relevant authorities.

P C Siam has compiled all documents related to fuel trading during February and March and is prepared to hand them over to officials for review. He added that the company carried out only six fuel transport trips in March because it is a small local operator supplying contracted traders in the upper South.

When asked about allegations surrounding 57 million litres of fuel reportedly unaccounted for during transportation, Lt Col Jamnong said movements from refineries to fuel depots were supported by clear documentary evidence.

He declined to comment on speculation that the company could be made a scapegoat, but said it would continue to cooperate in order to prove its innocence and restore its reputation.

Business impact prompts legal warning

Lt Col Jamnong acknowledged that the controversy had already had a major impact on the company’s business.

He said comments on social media may also have caused damage and warned that the company reserved its legal rights, as the allegations had affected confidence in the business and led to a drop in orders.

P C Siam Petroleum has come under scrutiny amid wider concerns over fuel supply, pricing and alleged stockpiling during Thailand’s energy crunch linked to the Middle East conflict. Authorities have been investigating irregularities in fuel movements and inventory records as the government steps up efforts to curb profiteering and prevent domestic shortages.