Malaysia’s petroleum supply remains stable with government contingency plans in place to manage global energy crisis impacts
KUALA LUMPUR: Deputy Prime Minister Datuk Seri Fadillah Yusof has assured the public that Malaysia’s national petroleum supply remains stable and sufficient.
He stated the government has prepared contingency plans to ensure continued supply under any circumstances, including sourcing from alternative markets.
This preparation is in response to the ongoing global energy crisis triggered by conflict in West Asia. Fadillah acknowledged that Malaysia, as an open economy, is not exempt from the crisis’s effects.
“However, it is important to stress that our country remains under control, prepared, and is taking proactive steps to manage the impact of this crisis,” he said during a televised Global Energy Crisis Briefing.
He urged the nation to remain vigilant and take precautionary measures should the crisis prolong. The briefing followed a Cabinet directive to establish a Communications Command Centre linked to the National Economic Action Council.
Fadillah said the government, together with Petronas and industry players, is monitoring the supply chain daily to address public concerns. Engagement sessions with stakeholders are also held consistently to obtain real-time feedback and coordinate swift actions.
These measures aim to ensure supply stability and safeguard the market. Disruptions to strategic routes like the Strait of Hormuz, a vital artery for global oil flows, have increased market uncertainty.
This uncertainty has contributed to pushing global oil prices to high levels.
