Malaysia Moves to Secure Fuel Supplies Through December Amid Middle East Turmoil
Malaysia will diversify fuel imports, optimise domestic production and strengthen long-term supply agreements to secure energy supplies through December amid Middle East conflict.
Malaysia's government will take steps to guarantee adequate fuel supplies through December and shield the country from the fallout of a global energy crisis triggered by conflict in the Middle East, the economy ministry said on Friday.
Economy Minister Akmal Nasir said the government would broaden its import sources, improve domestic fuel production and reinforce long-term supply agreements. The measures are intended to reduce reliance on any single country or supply route, particularly as energy trade flows from the Middle East remain uncertain.
Speaking during a live broadcast on his Facebook page, Akmal said efforts to diversify supply sources would continue, with crude oil and petroleum products being sourced from various regions, including the Americas, while alternative suppliers on the African continent are also being explored.
The minister also pointed to recent energy cooperation between Malaysia and Thailand, including the signing of a new Production Sharing Contract and Gas Sales Agreement for Block A-18-01 in the Malaysia-Thailand Joint Development Area. He said the arrangement opens room for investment, sustains production and secures long-term value for both countries.