Jul 29, 2013
Crude Oil Leak from undersea pipe in Gulf of Thailand
Estimated 50,000 liters of crude oil leaked from an underwater pipe of PTT Global Chemical PLC, in the Gulf of Thailand on July 27, 2013. Oil slick now moved toward Rayong province. Ko Samet's Prao beach was covered by thick black oil for about 600 meters. Tourists have checked out from hotels on the island.
Thai navy and marines were asked to assist in cleaning up. It might take over 15 days to clean up. Tourism industry of Rayong province estimated the loss of over 1 billion Baht so far.
News from the Thai stock exchange indicated a lower stock price of PTTGC PLC lowered for 2 consecutive days over high costs of clean up and possible litigations from affected parties.