Thai oil refiners are stepping up supply-security measures by diversifying crude imports, securing cargoes in advance and increasing floating storage as they prepare for the risk of a prolonged Middle East crisis.
Rungnapa Janchookiat, chairwoman of the petroleum refinery industry group under the Federation of Thai Industries, said refiners had been closely monitoring global energy markets, crude procurement, shipping routes and other risk factors that could affect oil supply.
She said the industry had continued to assess conditions and plan crude purchases ahead of time through cooperation with international traders and producers, allowing refiners to reach supply sources in several regions and adjust procurement plans quickly when risks change.
The flexibility, she said, comes from continued investment in refinery development and upgrades, which has allowed Thai refineries to process crude from a wider range of producing areas.
Since unrest in the Middle East intensified, Thai refiners have increased crude purchases from other regions, including West Africa and the United States.