Draft bill to regulate trade in oil and gas is ready - Energy Minister

13 Sept 20:25 Key points summarised by AI

Energy Minister Pirapan Salirathavibhaga announced a new draft bill to regulate oil and gas trade, aiming to ensure fairness for consumers, enhance energy security, and liberalize oil imports.
The bill proposes a 'cost plus' system for domestic oil prices, adjusting them monthly based on actual production costs instead of daily regional benchmarks, requiring traders to justify any changes.
Key provisions include allowing specific groups like transport operators, farmers, and fishing groups to import oil for their own use, promoting greater market access.
The draft also seeks to establish a Strategic Petroleum Reserve, increasing Thailand’s oil reserves from 50 to 90 days, and promotes the use of solar energy.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.