KUALA LUMPUR – Malaysia ramps up efforts to secure fuel supplies as Middle East conflicts threaten shortages starting June, Economy Minister Akmal Nasrullah Mohd Nasir warned, spotlighting risks to oil-derived raw materials for drugs and medical devices.
Prime Minister Anwar Ibrahim flagged uncertainties as early as June earlier this month, exposing the nation’s exposure to global energy shocks. While April and May stocks remain stable, Akmal stressed June and July as “critical,” prompting diversification of sources and bolstered ties with trading partners.
Temporary petrol station disruptions from spiked demand prompted Deputy Domestic Trade Minister Fuziah Salleh to urge calm on April 11, affirming ample national reserves and swift restoration measures via Facebook.
Petronas, the state energy giant, denied Philippine media claims of exporting 329,000 barrels of diesel, clarifying no such deals exist and prioritizing domestic needs for uninterrupted supply. These steps aim to shield industries and consumers from escalating geopolitical pressures on energy markets.