PTG confirms plans to raise refined oil reservesPTG Energy Plc, the operator of PT petrol stations, has announced plans to expand its refined oil reserves in line with a government directive aimed at safeguarding national energy security during the ongoing US-Iran conflict. Authorities last week ordered local oil retailers to raise their refined oil reserves proportion to 1.5% by March 31, up from the current 1%. Pithak Ratchakitprakarn, president and chief executive of PTG, confirmed the company holds refined oil sourced from six refineries. PTG acknowledged last week the cost of acquiring additional reserves poses challenges for oil retailers already grappling with fierce competition and thin profit margins. There are 6,126 touchpoints nationwide, and PTG plans to increase the figure to more than 7,000 by year-end.

Source: Bangkok Post March 12, 2026 18:28 UTC