Petroleum industry in Thailand - statistics & facts
In 2023, petroleum products were one of the leading energy types for commercial primary consumption in Thailand, making it one of the most important energy sources in the country. In the long run, Thailand aims to become self-sustainable in terms of energy consumption resulting in continuous research and development in petroleum field exploration as well as product development. Overall, domestic and international corporations are involved in petroleum production. PTT Public Company Limited was the major shareholder, shaping the petroleum market in Thailand.
A typical household in Thailand spends the most on petroleum products such as diesel and gasoline. The majority of petroleum products, however, are mainly used for transportation while other petroleum byproducts such asiquefied petroleum gas (LPG) are mainly used for cooking. The demand for crude oil and LPG remained consistent throughout the years, except for a decline in 2020 because of the COVID-19 pandemic.
Petroleum resources and consumption in Thailand
Petroleum resources in Thailand are found in both onshore and offshore locations. The majority of petroleum produced in the country, however, is located in offshore wells, especially in the Gulf of Thailand. These natural petroleum resources are obtained for drilling, appraisal, and exploration through state concessions for a specified period. Despite being able to produce petroleum, Thailand remains a net importer of petroleum and crude oil, mainly from larger oil-producing countries in the Middle East.A typical household in Thailand spends the most on petroleum products such as diesel and gasoline. The majority of petroleum products, however, are mainly used for transportation while other petroleum byproducts such asiquefied petroleum gas (LPG) are mainly used for cooking. The demand for crude oil and LPG remained consistent throughout the years, except for a decline in 2020 because of the COVID-19 pandemic.
