Oil-producing Malaysia “just isn’t absolutely insulated” from the provision disruption caused by the continuing battle within the Center East, the Southeast Asian nation’s nationwide oil and fuel firm warned because it assured it was “carefully” monitoring home gas provide.
“Almost 40 % of the nation’s crude oil necessities transit by the Strait of Hormuz”, Petroliam Nasional Bhd (Petronas) mentioned in a web-based assertion final week.
“Because the onset of the disaster, crude oil costs have risen by virtually 40 %. Consequently, international delivery prices, insurance coverage premiums and delivery-related logistics have additionally elevated considerably. All these developments have impacted Malaysia’s gas provide safety.
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“On the product facet, nationwide demand continues to exceed home provide. To deal with this shortfall, Petronas leverages on its built-in worth chain, working by its subsidiaries to safe ample petrol and diesel provide, to help its market share of practically 50 %, as much as Might 2026. The stability is being provided by the opposite oil firms working in Malaysia”.
Petronas mentioned that because of authorities’s subsidies, gas costs in Malaysia are “among the many lowest within the area”.
“Because the length and full magnitude of the battle in Iran stays unsure, Petronas strongly advocates extra environment friendly power consumption by each trade and members of the general public”, the assertion added.
“The corporate would additionally advise members of the general public to keep away from panic shopping for and hoarding of fuels as this could worsen the impression of this disaster”.
Within the electrical energy sector, Malaysia’s grid and system demand have been inside out there capability as of Monday. Almost half of the out there capability of over 23,000 megawatts (MW) was fuel energy (about 10,500 MW), based on the web dashboard of the nation’s Grid System Operator.
Final yr Malaysia produced 2,943.8 billion cubic ft of pure fuel, down three % from 2024, based on knowledge printed by the nation’s Division of Statistics March 4, 2026. Fourth-quarter fuel manufacturing fell 1.1 % in comparison with the prior three-month interval.
Malaysia exported MYR 13.6 billion ($3.38 billion) price of liquefied pure fuel (LNG) within the October-December 2025 interval, up sequentially, whereas importing MYR 1.6 billion price of LNG, additionally up quarter-on-quarter, based on the Statistics Division.
Its annual crude oil and condensate manufacturing grew 1.1 % from 2024 to 183.6 million barrels, with crude output falling within the fourth quarter sequentially.
Malaysia shipped MYR 6.1 billion price of crude and condensates abroad in This fall, up sequentially. Refined merchandise exports additionally elevated to MYR 23.9 billion, the official knowledge confirmed.
Based on the Vitality Institute’s newest “Statistical Overview of World Vitality”, Malaysia was Asia-Pacific’s third-biggest fuel producer (after China and Australia) and fourth-biggest oil producer (after China, India and Indonesia) in 2024.
Individually, Petronas denied any talks of supplying gas to a neighborhood authorities in neighboring Philippines.
“Petronas’ instant focus is to make sure that dependable and steady gas provide is offered for Malaysia”, it mentioned in one other assertion.
Final Monday the Philippine Vitality Division mentioned a mixed 300,000 barrels of diesel have been on account of arrive from Malaysia and Singapore “early” this month.
To contact the writer, electronic mail jov.onsat@rigzone.com
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