Thailand is looking to diversify its oil imports from Africa and the Americas due to potential disruptions in Middle Eastern supplies. Energy Minister Atthapol Rerkpiboon stated that the first shipments from these new regions are expected by April. This decision aligns with concerns over rising global oil prices, which have increased by about 7% to between $75 and $85 per barrel.
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Authorities are monitoring the situation closely, focusing on the strategic Strait of Hormuz, pivotal for global oil transit. Although not closed, tensions could lead to further supply challenges. As a precaution, Thailand is considering a temporary ban on crude oil and refined petroleum product exports to secure domestic reserves.
A National Security Council meeting on Tuesday, chaired by Prime Minister Anutin Charnvirakul, evaluated these potential impacts. The meeting included key government and military officials, highlighting the severity of the situation. Notably, Laos would remain exempt from any export bans due to Thailand's dependency on its hydropower.
Electricity demand in Thailand is predicted to surge in April, during the dry season. The Electricity Generating Authority plans to boost coal and hydroelectric output while delaying maintenance to maintain supply. This step aims to address the country's energy needs amidst potential global oil supply disruptions.
Thailand's oil exports primarily target Asian markets, with major destinations being Singapore, Laos, Vietnam, Malaysia, and China. In a bid to preserve reserves, the energy minister has encouraged the public to use public transport wherever possible, reported Thai PBS.
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Adapted by ASEAN Now · Thai PBS · 03 Mar 2026