BANGKOK, March 13 : Thailand is ready to start negotiations with Russia on oil supplies, Thai Deputy Prime Minister Phipat Ratchakiprakarn said on Friday.
“There is good news: it has become known from the US statement that the US has stopped boycotting Russian oil exports, so Thailand will become one of the countries that will now begin negotiations with Russia on the purchase of crude oil. The negotiations will be initiated by the Thai Ministry of Energy,” the official told reporters.
Thailand currently has crude oil reserves sufficient for 98 days of petroleum processing, Ratchakiprakarn said.
The Middle East crisis threatens Persian Gulf oil supplies, which normally cover about 50% of Thailand’s imports, the official added. The other 50 pc comes from alternative sources, he said.
Ratchakiprakarn said that he, Thai Prime Minister Anutin Charnvirakul and cabinet members were doing everything possible to find alternative sources of oil supplies.
From March 17, gasoline prices in Thailand will rise gradually after the 15-day subsidy on diesel and partial gasoline from the national petroleum fund ends, the official said. Adjustments will occur weekly, he added. (UNI)
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