BANGKOK, 15 June 2015 – The Department of Mineral Fuels has expressed concerns over the declining oil prices and uncertainty surrounding the 21st petroleum concession policy.
Deputy Director General of the Department of Mineral Fuels Veerasak Puengrasami said that state revenue from royalties from oil production companies has declined due to falling fuel prices.
He cited that many companies have halted production and are unable to turn a profit. Many workers have also been laid off after the 21st petroleum concession bidding round was postponed.
Mr. Veerasak said more workers could be laid off if the next round of the petroleum concession is not scheduled soon.
