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Thai oil refiners under heat as Bangkok seeks profit-sharing

Government wants refineries to contribute to consumer subsidies as inflation bites

Thai oil refiners are being asked by the government to share their profits.   © Reuters

BANGKOK -- Shares in six major Thai oil refiners are still under pressure days after the government said it was in talks with them for a profit-sharing system to help boost the State Oil Fund so that it can continue to provide subsidies to consumers at a time of spiraling inflation.

Energy Minister Supattanapong Punmeechaow said on June 13 that the government was in talks with oil refiners to help build up that fund, which has racked up almost 100 billion baht ($2.8 billion) in debt.

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