Mr. Auttapol Rerkpiboon, Minister of Energy, revealed that due to Iran’s closure of the Strait of Hormuz, he has urgently ordered the implementation of measures to suspend oil exports to reserve national energy security.
The minister also instructed the establishment of an Emergency Energy Situation Monitoring Center to closely follow developments, requiring all agencies to assess impacts, prepare plans and measures for reserves and pricing, and prepare to utilize the Oil Fuel Fund to compensate for oil prices in order to mitigate the effects on goods prices and the cost of living due to the rising global oil market prices.
As for Thailand’s oil reserves as of March 1, 2026, the country has remaining oil (crude oil and refined oil) totaling 4,877 million liters, sufficient for 38 days of consumption. Crude oil currently in transit (already passed through the Strait of Hormuz) amounts to 1,666 million liters, and oil from other sources totals 1,117 million liters, sufficient for 22 days of consumption. In total, oil reserves stand at 7,660 million liters, enough for 60 days. In addition, the Ministry of Energy conducts regular inspections of oil reserves at storage facilities nationwide. On February 13 and 25, 2026, inspections were conducted on refined oil and crude oil reserves respectively, which found that Thailand’s oil reserves are adequate as specified.
Furthermore, the Minister of Energy ordered the Department of Mineral Fuels to prepare plans to increase natural gas production in the Gulf of Thailand and to postpone maintenance schedules for natural gas fields to mitigate current impacts. For electricity, there was an order to operate coal-fired and hydropower plants at full capacity.
“The Ministry of Energy affirms that the recent unrest last Saturday has not affected Thailand in terms of oil reserves or prices. However, urgent measures have been initiated to suspend oil exports, and an Emergency Energy Situation Monitoring Center has been established. All relevant agencies are to closely monitor the situation and formulate both short- and long-term plans should the situation be prolonged, including preparing to use the Oil Fuel Fund to compensate for global oil price increases. As for natural gas, instructions have been given to increase production from the Gulf of Thailand and postpone maintenance during this period. The Ministry of Energy confirms that domestic oil reserves are sufficient for consumption. The public is asked not to panic and is urged to use energy efficiently, which will help reduce imports and keep overall energy costs lower,” said Mr. Auttapol.
