Spats on the Thai and Cambodia border draw energy giant PTT
Cambodia suddenly Fuel imports from nearby Thailand were suspended on Sunday as tensions between two Southeast Asian countries escalated Border Disputes.
In a Facebook post on Sunday, Cambodia Prime Minister Hun Mane wrote, “All fuel and gas imports from Thailand will be suspended.” He added that Cambodian energy companies can import sufficient fuel from other sources.
A few days ago, Hun Mane’s father – former leader of the country, hun hun sen, prevented the government from halting the import of canned foods and alcohol from Thailand. Similarly, Khmer Facebook posts translated by local media outlets Khmer Timesshe’s late He also alleged that Thai opposition parties wanted to ban fuel exports to Cambodia, suggesting that such a move would hurt far more than Thai state oil company PTT hurt Cambodia.
PTT, No. of 2 Southeast Asia 500Thailand’s largest energy company. Other major Thai energy companies are Banchak (No. 17) and Susco (No. 281), which also export to Cambodia.
Still, it is not clear how much losses in Cambodia-bound fuel exports will hurt Thai energy companies. Citing government data, local media said Thailand exported 2.3 billion litres of fuel to Cambodia last year. This accounted for around 20% of Thailand’s total fuel exports, worth around 48 billion baht ($1.5 billion).
By comparison, PTT generated $87.6 billion in revenue last year. maximum The overseas market was Singapore, followed by the UK, US and Malaysia. Cambodia was the seventh largest overseas market in PTT.
A growing crisis
Thailand and Cambodia relations have been exacerbated since late May, when troops from both countries fired fire across the conflict border. A Cambodian soldier died in the incident.
Subsequent negotiations do not rule out the situation. The situation puts Thailand’s Union government at risk. Leaked phone Between Thai Prime Minister Paetong Tarun Sinawatra and Senator Hun on the phone, Petong Gaan urged Hun Sen not to listen to “the other side” of Thailand, including the outspoken Thai general. (The Thai army retained significant political influence and expelled former Prime Minister Thaksin Sinawatra, Petonggaan’s father, in 2006.)
Leaked phone I was led The Bumjaytay Party, one of Paetong Thanh’s political partners, left her coalition and gave the Prime Minister a small majority in the country’s parliament. She has since apologised for her language during the phone call, calling it a negotiation tactic.
Since then, Thailand has expanded its pressure on Cambodia. The country has restricted restrictions on border intersections to Cambodia, allowing only mandatory travel. The same goes for the country Stop Exporting so-called fuel and electricity products Fraud Center In Cambodia.
Since the political crisis began, Thai stock markets have been hampered. The SET index, which tracks companies listed on Thai stock exchanges, has fallen by more than 20% this year, worsening the height of Covid Pandemic in 2020 and 2021.