KUALA LUMPUR: The government will ensure Malaysia maintains safe and sufficient petroleum stocks from July to December this year, while continuing measures to safeguard the country’s fuel supply against global geopolitical uncertainties.
Economy Minister Akmal Nasir said the government would continue monitoring stock levels closely, even though the country’s oil and fuel supply remained stable and adequate at the moment.
He said the assurance followed proactive measures introduced in phases after disruptions in the Strait of Hormuz began on Feb 28.
“From July 2026 to December 2026, the government will continue to ensure that the country’s petroleum stocks remain at safe and sufficient levels,” he said in a written parliamentary reply to Datuk Seri Hamzah Zainudin (PN-Larut) on Tuesday (July 8).
Akmal said Brent crude oil prices, which peaked at US$144.50 per barrel in early April, had eased to US$99.29 per barrel between June 1 and 5, reflecting improving market sentiment following peace negotiations.
However, he said the government remained cautious as constraints on physical supply and declining global inventories continued to pose risks.
He said Malaysia’s fuel security would be underpinned by three key strategies: diversifying import sources, optimising domestic fuel production through biodiesel and securing long-term supply agreements.
“This multi-layered approach provides Malaysia with greater flexibility and resilience,” he said.
Akmal said the government, through PETRONAS, had expanded its crude oil and petroleum product sourcing beyond the Middle East by securing supplies from South America, West Africa and Central Asian countries, including Turkmenistan and Uzbekistan.
The move, he said, was intended to reduce dependence on the Strait of Hormuz, which had been affected by the conflict.
He added that the government had also accelerated the rollout of higher biodiesel blends, increasing the mix from B10 to B12 and subsequently B15, to extend domestic diesel supplies using existing infrastructure without significant additional costs.
“Enforcement had also been stepped up through the integrated Ops Tiris 4.0 operation to curb leakages and the smuggling of subsidised fuel.”
He said the government had also identified 113 high-frequency indicators to enable faster and more proactive assessments of developments affecting supply.
In addition, he said the Global Supply Crisis Monitoring Dashboard, which integrates key indicators on the economy, global commodity prices, food supply, energy and logistics, had been publicly accessible through the Economy Ministry’s website since May 15.
“Throughout the crisis, the government remains committed to ensuring adequate supplies of essential goods, keeping prices under control and protecting the people from the effects of global market uncertainty,” he said.
