Petronas Now a Net Oil Importer, Anwar Explains Malaysia’s Energy Reality
Shift in status highlights global dependency
IPOH: Prime Minister Anwar Ibrahim has revealed that Petroliam Nasional Berhad (Petronas) is now a net importer of oil, marking a significant shift from the long-held perception that Malaysia remains a net exporter.
He said this change explains why the country continues to feel the impact of global oil price fluctuations despite having its own national oil company.
“We are no longer a net exporter. We now have to purchase oil. We have sufficient reserves for April and May, but June remains uncertain,” he said while officiating the Program Madani Rakyat 2026 Perak today.
Global conflicts intensify supply pressure
Anwar noted that the current situation is heavily influenced by global geopolitical tensions, including conflicts involving Iran, the United States and Israel, which have disrupted oil supply chains worldwide.
He said the government is closely monitoring developments through near-daily discussions with economists and Petronas to stay informed and prepared.
According to him, several ASEAN countries are already facing more severe consequences, including fuel rationing and the closure of petrol stations due to supply shortages.
These developments underscore that Malaysia is not immune to global energy disruptions.
Government prioritises supply stability and price control
In responding to the crisis, Anwar emphasised that the government’s immediate priority is to ensure the availability of essential goods.
These include fuel, cooking oil, flour, sugar, salt, vegetables, fish, meat and poultry.
He added that once supply is secured, the next step is to manage prices as effectively as possible to reduce the burden on consumers.
This approach aims to balance market stability with public welfare.
Support measures for businesses under review
The government is also reviewing potential measures to support businesses affected by rising operational costs due to higher fuel prices.
Among the options being considered are tax relief, tariff adjustments and reductions in certain charges.
Anwar said proposals such as delaying the implementation of e-invoicing are also being evaluated as part of broader efforts to ease economic pressure on businesses.
He stressed that all measures are being carefully studied to ensure both the public and business community can better cope with current economic challenges.
-wilayah.com.my
