KUALA LUMPUR, June 5 — Crude oil and condensate production declined on-year by 5.5 per cent to 43 million barrels in this year’s first quarter (Q1) compared with 45.5 million barrels in Q1 last year.
Chief statistician Datuk Seri Mohd Uzir Mahidin attributed the decline to a fall in crude oil production, which contracted by 9.4 per cent to 28.1 million barrels from 31.5 million barrels previously.
“Nevertheless, condensate production showed a growth of 3 per cent to 14.9 million barrels compared with 14.4 million barrels in (Q1) 2025,” he said in a statement today after the Statistics Department (DOSM) released the Mining of Petroleum and Natural Gas Statistics for the First Quarter of 2026 report.
In terms of composition, crude oil contributed 65.4 per cent of the total crude oil and condensate production, while condensate accounted for 34.6 per cent.
Meanwhile, natural gas production was 21.68 billion cubic metres, having fallen 2.1 per cent, compared with a decline of 1 per cent in the previous quarter.
However, monthly movements in Q1 2026 showed a higher rate of change in March compared with the preceding two months.
Commenting on external trade performance, Uzir said the export value of crude oil and condensate decreased to RM5.2 billion in Q1 2026, down from RM6.1 billion in Q4 2025.
This decline was in line with exports of refined petroleum products, which decreased marginally to RM22.9 billion compared with RM23.9 billion in the preceding quarter.
Exports of liquefied natural gas (LNG) also declined to RM12.9 billion in Q1 compared with RM13.6 billion in the previous quarter.
On imports of crude oil and condensate, Uzir said they declined to RM7.3 billion in Q1 2026 compared with RM11.5 billion in Q4 2025.
Imports of refined petroleum products decreased to RM22.3 billion compared with RM22.8 billion in Q4 2025.
“Meanwhile, imports of LNG also decreased to RM1.3 billion compared with RM1.6 billion recorded in the preceding quarter,” Uzir added.
