According to prime minister Datuk Seri Anwar Ibrahim, Petronas is now a net importer of fuel and not an exporter as previously understood. As reported by Bernama, he said the situation explains why Malaysia remains exposed to global energy supply pressures despite being an oil-producing nation. “Petronas is now a net importer; we need to buy oil. Supply for April and May is sufficient, but for June it is still uncertain,” Anwar said when officiating the Perak Madani Rakyat Programme 2026 on Saturday (April 4).
The prime minister’s response comes amidst perceptions that Malaysia should not face an oil crisis in the wake of the conflict in West Asia. He added that all parties should understand the current realities and work together to find solutions to ensure the stability of the country’s energy supply.
On Friday (April 3), Bernama reported Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz as saying Malaysia has a relatively sufficient crude oil supply compared to other ASEAN countries. He pointed out that almost 40% of Malaysia’s crude oil imports pass through the Strait of Hormuz, compared with nearly 90% for other ASEAN nations that rely on the route.
Tengku Muhammad Taufik also pointed out that Malaysia’s domestic crude oil production has been gradually declining as its mature fields undergo natural depletion. In the 1990s and early 2000s, Malaysia produced over 700,000 barrels per day but current domestic crude output is estimated to be around around 350,000 barrels per day. However, Petronas refining system requires about 700,000 barrels per day to meet dosmetic fuel demand, hence the need for imports to fill the gap.
“It is not that Petronas is unaware (of the decline in crude oil production). Exploration efforts continue to be led together with contractors and investors, but what we are finding is largely natural gas. Most of it is natural gas, and Malaysia is a gas-prone region,” he said.
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Fire Madani and MAlaysia will become a nett exporter of fuel
You’re just too sick and too tired to be aware that Malaysia has been a net importer of crude oil (the stuff petrol, diesel, kerosene, jet fuel are made from) since the early 2010’s, during the time of the 6th PM administration. However, Malaysia is still a net exporter of natural gas.
Madanon said PETRONAS not Malaysia. So Malaysia is the net importer or what? I know that other Petco also import fuel into Malaysia. When come to importing fuel, it is PETRONAS. When it comes to be allowed to pass the Strait of Hormuz, it is Malaysia ship, not PETRONAS. Kelakar lah with the subtle play of words. SHELL ships are not allowed to pass even though they are heading to Malaysia.
Like it or not, Petronas is owned by the Malaysian government and thus represents Malaysia in the global petroleum industry. Even global petroleum industry giants BP & Exxon-Mobil had exited the fuel retail (petrol station) business in Malaysia when they eventually realised that it is futile to expect better profitability with Petronas being dominant locally.
Just buy cheap oil from Iran
Must support Islamic state
Errr so tell me Mr BigBrain, where is that crude oil coming from? Your bunghole?
malaysia became a net importer becaue greedy eastern S&S stole sorry i mean “took over” petronas assets. we gave them budi95 petrol , subsidized diesel, 40% OnG revenue but thats not enough . now they even demand more parliament seats. their greed knows no bound, we should kick them out the same way we kicked out singapore 50 years ago.
Bad example, Singapore is prosperous and things run on Meritocracy. I know where you are coming from but you need better examples.
In the above article, the Petronas president & group CEO had mentioned that Malaysia’s domestic crude oil production had gradually declined due to the natural depletion of its mature oil fields, and thus, more crude oil has to be imported. He did not say that the Borneo states are responsible for making Malaysia a net importer of crude oil. Don’t simply make unproven remarks that can disrupt the country’s political stability. There’s already too much of such political problems around the world nowadays.