KUCHING, July 12 — Malaysia’s fuel supply is stable, with the government closely monitoring tensions in the Strait of Hormuz, Deputy Prime Minister Datuk Seri Fadillah Yusof said.
He said Malaysia is not experiencing energy supply disruptions, with Petronas and Prime Minister Datuk Seri Anwar Ibrahim taking proactive measures through multi-level negotiations to maintain energy security.
“Petronas has been working with the prime minister and engaging in negotiations at various levels to ensure our energy supply remains secure. So far, our supply is guaranteed,” he said after attending the closing ceremony of a regatta at the main Kampung Sejijak jetty here today.
However, the energy transition and water transformation minister said that despite sufficient supplies, geopolitical developments and uncertainties in global oil and gas prices could continue to weigh on the economy.
“While our supply is secure, pricing remains a challenge. This is why volatility in global oil and gas prices will inevitably affect our country’s supply position,” he said.
He said the situation would also pressure the country’s finances, despite the government’s subsidy and aid programmes.
“This is the challenge we must confront: planning for the country’s financial sustainability while ensuring support for the people remains the government’s priority,” Fadillah said.
