THE government will ensure Malaysia maintains sufficient petroleum stock from July to December this year while continuing measures to safeguard the country’s fuel supply against global geopolitical uncertainties.
Economy Minister Akmal Nasrullah Mohd Nasir (pic) said the government will continue monitoring stock levels closely even though the country’s fuel supply remains stable and adequate at the moment.
He said the assurance was based on 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 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) yesterday.
Akmal Nasrullah 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 between the United States and Iran.
He said Malaysia’s fuel security will 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.”
Akmal Nasrullah 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, Turkmenistan and Uzbekistan.
The move, he said, was intended to reduce dependence on the Strait of Hormuz.
Akmal Nasrullah 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.
Akmal Nasrullah said the government had identified 113 high-frequency indicators to enable 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, was accessible through the Economy Ministry’s website since May 15.
