Search Results for: oil prices
- Thailand News
Crude oil imports to Thailand at lowest level since 2015
Crude oil imports to Thailand were down in 2020 to the lowest level since 2015, according to data from Thailand’s energy department. Total imports fell 19,000 barrels per day from 2019 figures, down to 837,000 barrels. Due to the Covid-19 pandemic, domestic production also dropped along with the reduction in oil importing. Thai refineries decreased their production to 1 million…
- Thailand News
Thai parliament addresses low prices for farm produce
PHOTO: Low prices for produce, from coconuts to rice, roller to oil palm The new parliament has considered urgent motions on the low prices of farm goods and resolved to set up a 39 member extraordinary House committee to look into the the matter. The new Thai House of Representatives has deliberated 11 urgent motions lodged on the issue of…
- South Thailand News
Government to give cash handouts to oil palm planters
The National Oil Palm Committee, led by Deputy PM Prawit Wongsuwan, plans to give away 1,500 baht per rai cash handout to 150,000 oil palm planters in a massive subsidy for their production cost. The subsidies arrive with almost perfect timing for the ruling NCPO in the lead up to the national election in February and the rise of the…
- News
30,000 methamphetamine pills seized, drugs rife due to decreasing prices
Four drug dealers have been arrested with more than 30,000 methamphetamine pills. The use of methamphetamine pills is on the rise in the region, indeed right around Thailand, due to decreasing prices and increased availability. At a media briefing held yesterday (June 7) at the Krabi Provincial Police Station, Krabi Provincial Police Deputy Commander Col Tharatcha Tommapat said, “the four…
- Business News
Finance: Ups and downs in the price of oil
PHUKET: For somebody who pays attention to commodity prices, these are extremely interesting times. I still remember many talking heads on television predicting that we’d never see oil below 100 dollars per barrel. The argument was extremely convincing, especially when the markets seemed to be confirming its truth. With the flood of shale oil and the lifting of embargoes on…
- World News
AirAsia CEO: cheap oil paves way to revive expansion
PHUKET MEDIA WATCH – World news selected by Gazette editors for Phuket’s international community AirAsia CEO: cheap oil paves way to revive expansion Phuket Gazette / Reuters PHUKET: With low oil prices reducing its operating costs, AirAsia Chief Executive Tony Fernandes said the budget carrier was ready to start expanding again in southeast Asia and was eyeing Vietnam and the…
- Phuket News
Oil smuggler busted in Phuket waters
PHUKET: An oil smuggler was busted in Phuket yesterday after officials discovered 500 liters of illegal oil in a hold on a fishing vessel. “Acting on a tip-off, we tracked down Kor Sinsomboon 2 at about 11:30am. The captain was unable to produce his captain’s licence. However, the sea was too rough to search the vessel, so we escorted Manoon…
- Business News
Finance: Investment ideals for new oil and gas realities
PHUKET: Late last year, legendary oil and gas entrepreneur Thomas Boone Pickens said during a CNBC interview: “Energy is cheap in America. We still have the cheapest energy in the world…Take advantage of it, play the demand side.” Since then, Pickens has repeatedly stated in public appearances that he believes oil will rise to US$70 a barrel this year and…
- Business News
Finance: Oil volatility good for asset class
PHUKET: I used to write about the trend-following sector. Many of the funds I still use went decades with the steadiest performance in the investment industry, while still giving investors above-average returns. Sadly, in the period of low interest rates and volatility following the financial crisis, the entire asset class has struggled. The steady year-after-year forward progress seemed to turn…
- Thailand News
Gas prices slashed as New Year ‘gift’
PHUKET MEDIA WATCH – Thailand news selected by Gazette editors for Phuket’s international community Government slashes gas prices as New Year ‘gift’ The Nation / Phuket Gazette PHUKET: The National Energy Policy Committee has lowered the price of diesel fuel and petrol by 1 baht and 2 baht a liter respectively in what has been labelled a New Year gift…
- Thailand News
Phuket Gazette Thailand News: Bangkok flight delays continue; Abhisit in stupid woman hot water; Govt punts for double rubber prices
PHUKET MEDIA WATCH– Thailand news compiled by Gazette editors for Phuket’s international community Bangkok flight delays continue The Nation / Phuket GazettePHUKET: Passengers flying out of Suvarnabhumi airport in Bangkok can expect inconvenience and delays until a runway damaged by a crash landing by a THAI flight late on Sunday night is opened again tomorrow. Work is now being done…
- Thailand News
Phuket Gazette Thailand News: Farmer credit fails; DSI ups Nenkham hunt; Cabinet to tackle violent oil palm land grab
PHUKET MEDIA WATCH – Thailand news compiled by Gazette editors for Phuket’s international community Credit cards fail to win over farmers The Nation / Phuket Gazette PHUKET: Launched two years ago, the farmers’ credit-card scheme has proved to be anything but a success. As of June, only about Bt10 billion of credit was outstanding in the first phase from the…
- Phuket News
Phuket discount products fair to counter rising prices
PHUKET: In a bid to offer some relief from the spiralling cost of living in Phuket, the Phuket Provincial Cooperatives Office is holding a “discount products fair” in front of its offices in Phuket Town. Phuket Vice Governor Somkiet Sangkaosutthirak yesterday officiated the opening of the week-long fair on Damrong Road, in the old government quarter of the town around…
- Thailand News
Phuket Gazette: PM touts Thailand in Korea; 3G saga continues; Thais getting oiled
PHUKET MEDIA WATCH – Thailand news compiled by Gazette editors for Phuket’s international community Thailand ripe for investment, says PM in Seoul Phuket Gazette / The NationPHUKET: Prime Minister Yingluck Shinawatra has assured South Korean businessmen of Thailand’s bright economic prospects, citing the government’s business-friendly policies, flood-management measures and the cut in corporate tax. In a speech in Seoul yesterday…
- Business News
Phuket Business: Get ready for higher petrol prices
PHUKET: Now that we are fully into the swing of 2012, the Christmas tradition of goodwill to all men seems a lifetime away. When I get out of bed and go on my now regular morning beach run in Phuket – yes, my New Year’s resolution is still being adhered to – global problems seem to be a million miles…
- Phuket News
Phuket seafood prices to fluctuate regardless of wage increase
PHUKET: Minimum wage rises may not have a major impact on the wholesale price of seafood, which will continue to fluctuate due to a number of economic and seasonal factors, Phuket fishery industry representatives have said. Wiroj Wasinwasukul, the manager of the Por Pichai Fishing Port in Rassada, was insistent that wholesale seafood prices will not rise specifically because of…
- Phuket News
Hydrofoils the latest boon for Phuket
PHUKET: At present it sits on the quay at the Phuket Deep Sea Port in Ao Makham, looking like it’s just waiting for Buck Rogers or Dan Dare to come aboard and blast off into space. It’s not quite that exotic, however. This is the first of three hydrofoils that will whisk passengers off to Phi-Phi, Krabi, Koh Lanta or…
- Phuket News
PTT, Shell, cut fuel prices by B0.40
THAILAND: Thai petroleum giants Shell and PTT today announced that they have both dropped fuel prices by 40 satang a liter.In a press release, Chaivat Churitti, Senior Executive Vice President of the Oil Business Group of PTT, explained that average prices of oil on world markets had fallen recently, and PTT had therefore decided to lower retail prices of all…
- Phuket News
Marine police on lookout for oil smuggling
PHUKET CITY: Despite the recent rise in diesel price of more than 20%, local authorities say there is still no sign of a resurgence of large-scale smuggling of oil into Phuket.Pol Lt Col Prasopchai Bunleusin, Deputy Superintendent of Marine Police Region 5, explained that most of the oil smuggling along the Andaman Coast takes place in waters off the coasts…
- Thailand News
Most Thai listed companies report Q2 this year profits
Thailand’s stock exchange disclosed that 819 out of 856 listed companies have submitted their second-quarter financial results for this year, with 631 reporting net profits. This represents a significant 77.05% of the companies that submitted financial statements. The Stock Exchange of Thailand (SET) has seen continuous growth in the second quarter of this year. Sales for listed companies in the…
- Thailand News
Thailand’s digital wallet disaster: MFP oppose budget
Opposition parties have taken a firm stand against the supplementary budget bill, targeting the controversial digital wallet scheme. Estimated at a staggering 450 billion baht, the scheme is criticised for its alleged inefficacy in boosting the GDP and potential legal issues, which could set a detrimental precedent for future national budgeting and fiscal policies. Sirikanya Tansakul, Deputy Leader of the…
- Thailand News
Bombshell verdict: Srettha and MFP face the music in September
The Constitutional Court is set to deliver a landmark decision by September that could potentially see Prime Minister Srettha Thavisin dismissed and the opposition Move Forward party (MFP) dissolved, according to the court’s president. In a press briefing, Court President Nakharin Mektrairat confirmed that rulings on both high-stakes cases would be made by September. Last month, the court scheduled the…
- Thailand News
Impending impacts of upcoming court rulings on Srettha and MFP
Thailand’s political landscape is set for a significant shift as the upcoming Constitutional Court ruling on the cases of Prime Minister Srettha Thavisin and the opposition Move Forward Party (MFP) leader next month. The outcomes, scheduled for July 3 for the MFP and July 10 for PM Srettha, have the business community on edge, worried about potential disruptions to the…
- Business News
Thai industries sentiment index drops to 88.5 as layoffs rise
Thai Industries Sentiment Index (TISI) experienced another decline in May, dropping to 88.5 from April’s 90.3 points, as 15,000 workers have been laid off since the beginning of the year, according to the Federation of Thai Industries (FTI). Layoffs in the first five months of 2024 emerged as the TISI, which measures the manufacturing sector’s health, fell for the second…
- Automotive
The future of fuel in Thailand: Innovating for sustainability
Thailand is undergoing a pivotal transformation in energy production, transitioning from fossil fuels to innovative and sustainable alternatives. Over the past four decades, the energy landscape has seen considerable evolution, featuring significant measures such as the adoption of ethanol and biodiesel blends. These initiatives have established Thailand as a regional leader in renewable energy. Exploring alternative fuel options Biofuels Biofuels…
- Business News
Thailand’s business confidence drops amid wage hike concerns
Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…
- Business News
Thai stock market poised for upward surge after rocky start
After a downward trend in the first half of the year, Thailand’s stock market is predicted to come back in the second half, with a 2.7% decline year-to-date making it one of the worst global performers. This potential recovery is anticipated to be driven by a combination of growing fiscal budget disbursement, a weaker baht, and a revival in tourism and…
- Business News
Israel-Iran conflict threatens Thai economy in Q2
The ongoing conflict between Israel and Iran poses a potential threat to the Thai economy in the second quarter. Anticipated challenges include currency depreciation, an increase in oil prices, and a decrease in purchasing power. This comes after the International Monetary Fund reduced its Thai GDP forecast significantly from 4.4% to 2.7% growth, due to a slump in domestic consumption.…
- Business News
Thailand’s CPI sees sixth consecutive monthly decrease
The consumer price index (CPI) in Thailand has seen a decrease for the sixth consecutive month as of March, as reported by the country’s Commerce Ministry. This marks the 11th month in a row that the CPI has fallen outside the target range set by the central bank, which is between 1% and 3%. March’s CPI dropped by 0.47% compared…
- Business News
Thai EV sales surge by 603% amid government incentives
Battery electric vehicles (BEVs) sales in Thailand surged by 603% year-on-year to 73,568 units last year, with the upward trend expected to continue throughout this year, as per the Federation of Thai Industries (FTI). This growth is expected to outstrip that of internal combustion engine (ICE) vehicles, which witnessed a 13.7% year-on-year sales decline to 238,570 units in 2023, capturing…
