PTT subsidiary Thai Oil has denied allegations linking the state-owned refiner to marine oil stockpiling and incomplete fuel transport documents reportedly arising from the closure of the Strait of Hormuz.
In a stock exchange filing on June 19, the company detailed its distribution and compliance procedures to address these claims.
The company clarified that it has no direct or indirect involvement in oil stockpiling because marine oil sales are conducted strictly under FOB (free on board) terms. It added that route planning and voyage duration remain entirely the responsibility of the buyer and the marine transport operator.
Turning to documentation, the refiner explained that its maritime records are prepared in full compliance with relevant laws. These delivery notes can be systematically verified and cross-referenced when reviewed alongside related transaction documents.
Thai Oil said it has submitted these documents and a detailed explanation to the Department of Special Investigation.
The company expressed confidence that the department will provide a fair review of the facts, affirming, "it has committed no wrongdoing."
