Thai stocks fell 1.6% today as political concerns grew in the wake of PTT’s handling of a major oil spill.
Thailand’s biggest energy company has been widely criticised for over an “inefficient” response to the oil leak from its pipeline last Saturday.
“I believe that it took too long to contain the situation,” said Anuchida Chinsiraprapa, chair of Rayong province’s Chamber of Commerce.
“This has had a huge effect on the local tourism. In the long run, if we don’t quickly solve this, the tourism industry will suffer.”
An estimated 50,000 litres of crude oil spread in the Gulf of Thailand, drenching the beaches of a popular tourist destination, Samet Island.
Critics claim that PTT failed to prepare for such situation, despite experiencing leaks in the past.
According to local authorities, the oil was cleared off the island’s waters yesterday, although some slicks remain onshore.
Satellite imagery today suggested much of the spill had indeed been cleared from the water, but environmentalists fear the consequences of the spill will be greater than has been officially admitted.
“What has happened is far more serious than what PTT said on the first day,” said Ply Pirom, programme manager at Greenpeace Southeast Asia.
“We can expect an impact on fisheries and from chemical contamination in the food chain.”