KUALA LUMPUR: Crediting PETRONAS’ “excellent performance” and track record, the Prime Minister said Malaysia is unlikely to face an oil supply crisis in the coming months despite heightened global uncertainties.
Datuk Seri Anwar Ibrahim said while some price volatility and minor fluctuations may persist in the near term, the nation’s energy supply remains secure.
He said the national oil company maintains strong diplomatic and commercial relationships with major oil-producing countries, ensuring that procurement remains steady.
“Praise must be given to PETRONAS for their excellent performance and good relations with oil-producing countries,” he said at the Kuala Lumpur-Ankara Dialogue 2026.
As for oil supply, the Prime Minister said that Malaysia is not facing a supply crisis.
“For now, projections for May and June (show) there may be some price fluctuations, but in the next few months, supply is relatively secure,” he said.
Anwar explained that Malaysia’s position as a net importer of certain petroleum products is a strategic choice, as the country’s domestic production consists of premium-branded oil that fetches a higher price on the global market.
Beyond crude oil, Anwar highlighted Malaysia’s robust position in the liquefied natural gas (LNG) sector.
He credited this to a combination of “massive” domestic production, long-standing import arrangements with Australia and the success of PETRONAS’ international operations in Canada.
Addressing the broader strategy for national resilience, the Prime Minister said Putrajaya is “aggressively” expanding global partnerships to diversify its energy and industrial sources.
“We work very closely with Turkiye (in) all fields, including LNG and semiconductors. We are exploring in a very aggressive manner,” he said, adding that his personal rapport with President Recep Tayyip Erdogan has accelerated these bilateral efforts.
Anwar said Malaysia is also adopting a flexible and pragmatic approach, seeking alternatives from Spain to China for various strategic needs rather than relying solely on traditional Western suppliers like the United States.
“We don’t subscribe to a ‘truncated viewpoint’ tied to traditional allies. We negotiate whether they can supply or not,” he added.
Malaysia, Anwar said, has moved away from a posture of passive “neutrality” in favour of “active non-alignment”.
“Neutrality connotes a non-committal stance. That is why we changed the term. Active non-alignment conveys a very strong message,” he said.
This position allows Malaysia to maintain economic flexibility while taking principled stands on global issues, he said.
Meanwhile, Iran’s Ambassador to Malaysia Valiollah Mohammadi Nasrabadi said the remaining six Malaysian vessels stranded in the Strait of Hormuz will be cleared to pass through the waterway in stages.
“We (Iran) will let the ships pass through one by one,” he said, Bernama reported.
Earlier, Wisma Putra confirmed that one of the seven Malaysian-owned vessels stranded in the Strait of Hormuz due to regional tensions had been granted passage and was proceeding to its final destination.
This followed high-level diplomatic engagements between Anwar and Iranian President Masoud Pezeshkian on March 26, which enabled Malaysia to secure clearance for the seven vessels to resume their journey.
