Malaysia to ensure fuel supplies through year-end, ministry says
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KUALA LUMPUR, Sept 18 : The Malaysian government will take action to ensure it has enough fuel to last until December and protect itself from the impact of a global energy crisis caused by the conflict in the Middle East, the economy ministry said on Friday.
• Economy minister Akmal Nasir said the government will diversify import sources, optimise domestic fuel production and strengthen long-term supply agreements.
• “The strategy of diversifying supply sources continues to be strengthened by obtaining crude oil and petroleum products from various regions, including the Americas, as well as exploring alternative sources from the African continent,” he said during a live broadcast on his Facebook page.
• “This measure aims to reduce dependence on any single country or supply route, particularly as energy trade flows from the Middle East continue to face uncertainty,” he added.
• Recent energy cooperation between Malaysia and Thailand through the signing of a new Production Sharing Contract and Gas Sales Agreement for Block A-18-01 in the Malaysia-Thailand Joint Development Area also opens up room for investment, maintains production, and ensures long term value for both countries, he said.
Source: Reuters
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