PUTRAJAYA: In a surprise turn of events, the Government has disclosed that Malaysia is a beneficiary of declining crude oil prices because the country is a net importer, and not exporter, of the commodity and petroleum products, if liquefied natural gas (LNG) was not in the equation.
Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah said Malaysia had turned into a net importer of crude oil and petroleum products since 2014.
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