Reuters – RPT-Fitch: Higher Debt from Increase in Oil Reserve Requirement for Thai Refiners

Fitch Ratings (Thailand) Limited says that although the recent increase in Thailand’s strategic oil reserve requirement will likely raise debt levels at the country’s refiners, the change will have no immediate rating impact on the Thai refiners rated by the agency. From 1 November 2013, Thai refiners have to set aside 6% of Thailand’s domestic oil consumption in the country’s strategic oil reserve, compared with 5% previously. The government said the increase is aimed at lowering the risk of oil supply disruptions because the majority of oil consumed in Thailand is imported. (Read more…


(English, Article, 2013)

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