PRIME MINISTER Prayut Chan-o-cha has shot down the controversial proposal to set up a new national oil company as envisioned in an amendment to Petroleum Act which is due for a vote in the National Legislative Assembly (NLA) tomorrow.

THE ESTABLISHMENT of a National Oil Company would set back the country’s energy sector for decades, MR Pridiyathorn Devakula, a former deputy premier of the Prayut government, has warned in an open letter to the National Legislative Assembly yesterday.