BMI View: Thailand has a relatively strong domestic oil and gas position, but appears increasingly exposed to oil price fluctuations because of its growing reliance on crude oil imports, pipeline gas and now LNG. Delays in accelerating exploration licensing threaten the stability of the country’s oil and gas production. The main trends and developments we highlight in the Thai oil and gas sector are: ? Liquid hydrocarbons production has been excessively high compared to the country’s proved reserves of 450mn barrels (bbl) in 2012; half oil, half condensate. We expect production to slow down from an estimated 330,700 barrels per …
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