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Thailand Revises Oil Reserve Quotas, Plans Gasohol Marketing.
Dec. 6--The Energy Ministry is revising the national oil reserve programme by seeking oil traders to help manage the state reserve and generate profits from trading when market conditions are right, according to the Energy Policy and Planning Office (Eppo).
Metta Banturngsuk, the Eppo director, said that under the revised national oil reserve plan drafted by his agency, the reserve would be maintained by the Energy Ministry.
Currently, Thailand's oil reserves are kept only by private oil companies, which are required to do so by law. The current legal oil reserve is 5 percent of annual use of each type of refined oil and crude oil or 36 days.
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Source: HighBeam Research, Thailand Revises Oil Reserve Quotas, Plans Gasohol Marketing.