Kuala Lumpur (VNA) – Nearly 48% of Malaysia’s crude oil supply is produced domestically, while about 38% is imported through the Strait of Hormuz, according to a recent announcement by the country’s national oil company Petronas.
The remaining volume comes from other regions, including roughly 7% from Southeast Asia, 7% from West Africa, and additional supplies from West Asia and elsewhere.
The figures highlight Malaysia’s significant reliance on the Hormuz Strait, a strategically vital yet highly volatile global energy shipping route.
Data from the Malaysian Finance Ministry shows that domestic oil consumption stands at about 700,000 barrels per day, nearly double Malaysia’s crude oil production of around 350,000 barrels daily. The shortfall is covered through imports of roughly 350,000 barrels a day.
As such, Malaysia must continue to rely on imports to sustain demand for essential fuels, including petrol, diesel, LPG and aviation fuel, it said.
According to Prime Minister Datuk Seri Anwar Ibrahim, Petronas is now a net importer of fuel and no longer the exporter it was once regarded as. Supply for April and May is sufficient, but for June it is still uncertain, he said. Anwar said the situation requires all parties to understand the current realities and work together to find solutions to ensure the stability of the country's energy supply.
Anwar stated that Iran will allow Malaysian vessels to pass through the strait after holding talks with Iranian officials last month. The country's Foreign Minister later said there were seven ships linked to Malaysian companies that were awaiting clearance to transit the waterway. The Ocean Thunder loaded about 1 million barrels of Basrah Heavy crude on March 2 and is expected to discharge its cargo in Malaysia's Pengerang, in mid-April./.
