In response to the prolonged Middle East conflict, the Petroleum Refinery Industry Group emphasizes national energy stability by accelerating advance crude oil stockpiling and expanding storage facilities, raising oil reserves in the system to about 10 days above the normal pre-war levels.
On 11 Jun 2026 GMT+7, Ms. Rungnapa Chanchukiet, Chairperson of the Petroleum Refinery Industry Group at the Federation of Thai Industries, stated that amid uncertainties in negotiations between the US and Iran, and ongoing volatile tensions in the Middle East that seem prolonged, the refinery group has been closely monitoring the global energy market situation.
They have been tracking supply, transportation routes, and various risk factors that could affect oil procurement, continuously assessing the situation and planning crude oil sourcing in advance. This is done through cooperation with networks of traders and oil producers worldwide to access crude oil from multiple regions and adjust procurement plans promptly.
This adaptability results from ongoing investments in refinery development and upgrades, enabling the handling of crude oil from diverse production sources and increasing procurement flexibility.
"Since the unrest in the Middle East began, the refinery group has increased crude oil sourcing from other regions such as West Africa and the US, reducing the share of Middle Eastern crude oil from about 60% under normal conditions to around 30%, which is still deliverable via ports outside the Strait of Hormuz," she explained.
Moreover, to maintain the country's energy security and stability, the refinery group has implemented additional supply management measures, such as accelerating advance crude oil procurement to support production and increasing floating storage of crude oil on ships.
They have also temporarily acquired additional finished oil storage tanks both inside and outside refineries. As a result, current oil volumes in the system exceed pre-war normal levels by about 10 days, boosting confidence that Thailand has sufficient energy to meet demand and manage potential risks.
Ms. Rungnapa added that the Petroleum Refinery Industry Group will continue to closely monitor global energy developments and procure crude oil at full capacity. They will also work continuously with the Ministry of Energy and related agencies to ensure Thailand has adequate energy supply in all scenarios.