Shell Thailand says Thai oil demand to rise by 2%

Shell Thailand has revised its 2009 domestic oil demand forecast for Thailand upwards to 1-2% growth, from an earlier forecast of a 3% contraction, Chairwoman Pissawan Achanatornkul said. Demand began rebounding in June as the local economy recovered from the global economic downturn and is expected to remain solid for the rest of the year, Pissawan said. The country’s oil demand in 2008 was 40.61 billion liters, a 2% rise from 2007. Shell’s domestic oil sales are forecast to reach 4 billion liters in 2009, accounting for about 10% of the country’s total consumption. (September 25, 2009)