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Thailand halts oil exports on US-Iran conflict

  • Märkte: Crude oil, Oil products
  • 02.03.26

Thailand has suspended its oil exports on expectations of shipping disruptions arising from the US-Iran conflict.

The energy ministry has ordered a halt to oil exports to safeguard domestic reserves, according to state news agency the National News Bureau of Thailand. Market participants confirmed to Argus that state-owned energy firm PTTEP has informed them that it could potentially halt exports, although this has not been finalised yet.

Thailand is a net exporter of clean petroleum products and shipped around 10,000 b/d of gasoline, as well as a combined 25,000 b/d of diesel and gasoil in 2025, according to data from ship-tracking firm Kpler.

Most shipowners are avoiding transits through the strait of Hormuz because of the conflict between the US and Iran, even if the strait has not been formally closed.

Thailand has about 61 days' worth of oil reserves and is exploring alternative energy sources, the country's energy ministry said.

PTTEP will undertake measures to help safeguard national energy security, such as maximising natural gas production in the Gulf of Thailand and adjusting the schedule of planned maintenance to mitigate any impact on industry, the company said today.

PTTEP's oil exploration and production operations in the UAE and Oman have not been interrupted and are continuing, it added.

Thailand exported around 13,500 b/d of crude and condensate in 2025, according to the energy ministry. The top destinations were Malaysia, Singapore and Japan, data from market analytics firm Vortexa show.


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