Thailand has reserves of 4.925 billion litres of crude oil and finished oil products to meet domestic demand for 38 days, Veerapat Kiatfuengfoo, deputy permanent secretary of the Energy Ministry, reported today.
He said that there are another 1.746 billion litres of crude in tankers which have already passed through the Strait of Hormuz on their way to Thailand and a further 1.124 billion litres of crude from other sources, which together, at 6.795 billion litres, will be sufficient to meet domestic demand 61 days.
He said that liquefied natural gas (LNG) for March is on four tankers heading to Thailand, two of which have already passed through the vulnerable, yet strategic strait between Iran and the UAE.
Veerapat said that the war in the Middle East could tempt Iran to attempt to block the Strait, which would drive up global oil and gas prices.
He said that the Energy Ministry is monitoring the situation in Iran closely and has taken preemptive measures to mitigate and such an action.
