Energy Ministry: Thailand has 61 days of oil reserves amid Iran war fears

Energy Ministry says supplies remain secure

The Energy Ministry on Sunday expressed confidence that the ongoing war involving Iran, the United States and its ally Israel will not cause an oil shortage in Thailand, saying the country has reserves that can last 61 days and contingency plans in place.

The assurance was given by Weerapat Kiartfuangfoo, a day after a joint US-Israel assault on Iran began on Saturday.

Strait of Hormuz risks in focus

Weerapat said the ministry was closely monitoring the conflict amid concerns Iran could close the Strait of Hormuz, which would affect about 20% of global oil supply.

Thailand’s reserve position: 61 days in total

As of February 23, Weerapat said Thailand held 4.925 billion litres of petrol and crude oil—enough to meet domestic demand for 38 days.

He added that 1.746 billion litres of oil had been shipped through the Strait of Hormuz, while another 1.124 billion litres was being transported from other supply sources. The oil in transit would cover 23 days of demand.

Combined, Thailand has 7.795 billion litres of oil in reserves and in transit—sufficient for 61 days, Weerapat said.

LNG shipments being tracked

Weerapat said four LNG tankers were en route to Thailand, with two already through the Strait of Hormuz. The remaining two should be able to pass unless the conflict escalates.

Contingency plans prepared

“The Energy Ministry is closely monitoring the Israel-Iran situation and has prepared contingency plans to find alternative sources of oil and gas if the Strait of Hormuz is closed,” Weerapat said.

“Although the current situation has not yet affected reserves or oil prices, the ministry has prepared various scenarios in case the fighting is prolonged and escalates.”