Thailand’s oil reserves sufficient for 110 days, Oil Fuel Fund deep in debt

10 Sept 20:04 Key points summarised by AI

Thailand holds 110 days of oil reserves, but its Oil Fuel Fund is burdened with a 59.447 billion baht deficit due to substantial daily diesel subsidies.
The country's significant reliance on Middle Eastern crude (52% of imports) exposes it to geopolitical instabilities, leading to increased fuel costs from crude and war risk premiums.
Recent geopolitical tensions, particularly the Islamic Revolutionary Guard Corps' (IRGC) renewed suspension of maritime traffic through the vital Strait of Hormuz, have created a massive shipping gridlock and threaten global oil supply.
Despite these challenges, the Energy Ministry is auditing refinery data to ensure transparent price adjustments and affirms Thailand's short-term energy security.

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.