KUALA LUMPUR: Energy security will remain paramount as the global energy system comes under increasing strain from escalating geopolitical tensions in West Asia, says Petroliam Nasional Bhd.
Its president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said if the entirely avoidable confrontation in the region unfolds in the worst possible way, many countries would directly feel the absence of energy security, if they have not already begun experiencing its impact.
“In Asean, a region of 700 million people, we have seen in rapid succession the Philippines declaring a state of emergency.
Thailand is also signalling that its oil fuel fund will struggle to cope to cushion price increases, and Vietnam is beginning to impose travel limitations,” he said.
In Malaysia, while the fuel subsidy remains, the government has temporarily adjusted the Budi95 monthly quota to 200 litres from 300 litres previously.
“Governments across Asia are also shifting back to coal to cover liquified natural gas shortfalls,” Tengku Muhammad Taufik said during his keynote address at the Offshore Technology Conference Asia 2026 yesterday. — Bernama
