Petronas finalising next phase of fuel supply arrangements

 In April, the national oil company said it had secured enough fuel supply to last until the end of June.

Petronas supplies about 50% of the country’s fuel needs through its public-listed subsidiary, Petronas Dagangan Bhd, with the balance supplied by other oil firms operating in Malaysia.

KUALA LUMPUR:

 Petronas is in the final stages of securing Malaysia’s next phase of fuel supply amid the ongoing global energy crisis, says economy minister Akmal Nasir.

Akmal said Prime Minister Anwar Ibrahim is expected to make an announcement on the matter soon.

“We need to ensure economic activities can continue, given that much of our fuel supply has so far come from West Asia.

“As the prime minister has stated, we are finalising new sources of supply,” he told reporters after the Universiti Malaya Economics Summit here today.

Akmal said Malaysia’s current fuel reserves remained largely at operational levels, having managed to sustain supply despite blockades in the Strait of Hormuz.

Last month, Petronas confirmed that fuel supply at its stations nationwide would last until the end of June, extending its earlier projection by a month.

The national oil company supplies about 50% of the country’s fuel needs through its public-listed subsidiary, Petronas Dagangan Bhd, with the balance supplied by other oil firms operating in Malaysia. - FMT