The situation in the Middle East affects energy policy, Thailand adjusts oil export restrictions, and Laos strengthens fuel market supervision.

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Affected by the escalation of the situation in the Middle East and the obstruction of access to the Strait of Hormuz, the Thai government recently introduced an emergency energy policy to tighten oil export controls.

Affected by the escalation of the situation in the Middle East and the obstruction of access to the Strait of Hormuz, the Thai government recently introduced an emergency energy policy to tighten oil export control in order to give priority to ensuring the security of domestic oil reserves and deal with the supply uncertainty brought about by the regional turmoil.
The Minister of Energy of Thailand officially announced on March 1 that it would suspend domestic oil exports and set up an energy emergency monitoring center to closely track the progress of the situation in the Middle East and changes in oil reserves and prices. At the same time, it would start a fuel fund subsidy mechanism to alleviate the impact of rising international oil prices on people's livelihood and the market. It is reported that Thailand's current total oil reserves reach 7.66 billion liters, which can meet the domestic demand for 60 days. There is no need to panic if the reserves are sufficient.
It is worth noting that the export suspension policy was released less than 24 hours after the adjustment. The Thai government has explicitly exempted Laos from allowing it to continue to export oil, an arrangement that stems from the deep foundation of energy cooperation between Thailand and Laos and takes into account the real need for Laos to rely entirely on imports of fuel, as the two countries have previously reached a consensus on border oil export control. Follow-up Thailand also made it clear that, in addition to Laos, oil exports to Myanmar and oil exports to bonded warehouses are not within the scope of the suspension.
At the same time, affected by the continuous fermentation of tensions in the Middle East, the Ministry of Industry and Trade of Laos issued a special notice on March 2 to further strengthen the supervision of the domestic fuel market and prevent supply risks and abnormal price fluctuations. The notice clearly requires that all fuel import and export enterprises and retailers must submit their import and export and sales plans to the Domestic Trade Bureau of the Ministry of Industry and Trade before 4 pm every day to ensure that the regulatory authorities can grasp market trends in real time.
The notice also makes strict provisions: it is strictly forbidden for enterprises to hoard fuel oil and manipulate market prices. If they need to suspend business, they must report to the local competent authorities three days in advance to prevent market panic caused by suspension of business without reason. At the same time, local authorities are instructed to strengthen inspection, supervise the implementation of the notice and the domestic fuel supply situation, and punish illegal enterprises according to relevant laws and regulations, If the circumstances are serious, their business qualifications can be suspended or terminated.
The Ministry of Industry and Trade of Laos specifically stated that domestic fuel imports and prices are generally normal at present, with inventory and fuel in transit exceeding 10 million litres. The reserves of various enterprises can meet the recent social demand and the overall fuel supply is stable. At the same time, it calls on the public to purchase fuel rationally and avoid panic queuing for fuel. It is reported that all Lao fuel depends on imports, and Thailand is one of its core sources of supply. The exemption of Thailand from export restrictions also provides an important guarantee for the stability of Lao fuel supply.

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