Thailand’s demand for oil and natural gas increases

Nov 19, 2003 01:00 AM

PTT, the country's largest energy company, said that demand for oil and natural gas in Thailand during the first nine months of the year increased by 4.9 % to 1.04 mm bpd of oil equivalent.
PTT vice president of corporate public relations department Pongpayak Sathienpakiranakorn said consumption of refined oil products in the January-to-September period increased 4.5 % to 644,900 bpd compared with figures recorded a year earlier.

He said the use of diesel oil in Thailand increased by 8 % to 298,900 bpd, gasoline rose 4.7 % to 130,400 bpd and cooking gas up 1.9 % to 68,000 bpd. An increase in fuel demand incurred in response to the economic expansion is underlined by the increase in the number of cars sold as well as higher consumer spending due to low interest rates.
Car sales for the first 10 months the year rose 30.6 % to 425,425 units. The government forecasts the economy expanding by about 6.4 % this year.

PTT also said aviation fuel consumption from the January-to-September period dropped 2.5 % to 62,900 bpd, kerosene demand decreased 36.6 % to 700 bpd and fuel oil increased only 0.2 % to 84,000 bpd.
The demand for natural gas expanded 5.5 % to the equivalent of 398,200 bpd of oil. PTT said Thailand, during the first nine months of the year, paid 266.28 bn baht for the import of an additional 8.1 % of crude oil at 792,400 bpd, an increase of 28.6 % from the same period last year.

Source: Business Day
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