Thailand's petroleum sector faces a competitiveness crisis: outdated regulations and cumbersome approval processes are deterring foreign E&P investment, while heavy taxation and licensing restrictions have driven away major operators. Unless reforms modernize the framework—particularly for onshore blocks and licence renewal—the country risks over-reliance on expensive LNG imports, which could drive up electricity prices for consumers and SMEs. Stalled auction rounds (Round 25 and 26) compound the urgency.