IRPC Public Company Limited (IRPC) has responded to recent media reports alleging fuel stockpiling linked to the closure of the Strait of Hormuz and referring to the Company in connection with fuel stockpiling and the completeness of fuel transportation documentation.
IRPC confirmed its operation is solely as a refinery and distributor of petroleum products via pipelines, road transport and marine transport, in its capacity as a licensed oil trader under applicable laws. In the case of marine fuel sales to customers, the Company has no authority to direct, control or intervene in transportation activities once the fuel has been delivered. IRPC therefore confirms that it is not involved, either directly or indirectly, in any fuel stockpiling activities.
Regarding marine fuel sales, all oil tankers engaged in transportation operations are required to undergo registration and verification procedures under the strict supervision of the relevant regulatory authorities. Upon delivery of the fuel by vessel, all risks, responsibilities and control are transferred immediately to the purchaser. Consequently, the management of transportation arrangements, shipping routes and delivery schedules falls solely within the responsibility of the purchaser and the transport operator engaged by the purchaser. The Company is not involved in such matters.
Regarding fuel transportation and documentation, IRPC prepares and maintains transportation documents in accordance with all applicable laws and regulatory requirements. This enables the relevant parties at the destination, including receiving fuel depots and Excise Department officials, to verify the accuracy and completeness of fuel transportation records.
The operations of the Company’s refinery and oil storage facilities are conducted in strict compliance with all relevant laws, regulations and industry standards. IRPC maintains auditable systems for monitoring fuel receipts and dispatches and remains committed to the continuous production and supply of petroleum products to support the country’s energy needs.
IRPC is firmly committed to conducting its business in accordance with the principles of good corporate governance, transparency and accountability to all stakeholders. The Company stands ready to cooperate fully with government authorities in support of a comprehensive and impartial fact-finding process, with the aim of maintaining public confidence and trust.
