BANGKOK, 17 April 2012 – The Department of Mineral Fuels (DMF) has announced that income generated this year from petroleum production royalty will reach 70 billion baht, as the global energy prices increase.
The Department has revealed that royalties and profits for the government from the petroleum productions are expected to be around 65-70 billion baht, up from the 60 billion baht collected last year .
The increase is attributed to the hike in global energy prices, which makes petroleum products worth more.
The DMF is trying to maintain its production of 3.6-3.8 billion cubic feet of natural gas per day during the next five years; however, it is concerned that the number may decline in the future, forcing the nation to import more gas, when the existing gas resources are depleted and no no new gas fields are found.
