KUALA LUMPUR – Prime Minister Datuk Seri Anwar Ibrahim is expected to announce a plan addressing the continuity of Malaysia’s oil supply by mid-May, following global supply uncertainties caused by prolonged conflict in the Middle East and the closure of the Strait of Hormuz.
Economic Minister Akmal Nasrullah Mohd Nasir said the plan will likely focus on ensuring domestic oil supplies remain sufficient to sustain the country’s economic activities, after the government previously assured that current reserves could last until June.
“Petroliam Nasional Bhd (Petronas) is now at the final stage of securing new supply sources to ensure the continuity of the nation’s oil supply in the coming period,” he told reporters after participating as a panelist in the forum “Energy Crisis 2026: Are We Ready to Rethink Refuel?” during the University of Malaya Economic Summit (UMES) here on Saturday.
“Prime Minister previously stated that several new sources are being finalised and he is expected to present the next schedule regarding the country’s oil supply,” he added.
Akmal Nasrullah also noted that Malaysia’s current oil reserves remain operational, and the country is able to withstand supply disruptions thanks to intervention and management measures already implemented.
Beyond domestic efforts, the government is exploring regional collaboration as a key strategy to strengthen energy supply resilience.
“At the ASEAN level, I am informed that discussions are underway regarding regional stockpiling. However, in terms of framework, mechanisms, and so on, further details are required as this involves diplomacy and relations between member countries,” he said.
On the topic of biodiesel B15, the minister expressed optimism that an increase in the biodiesel blend could be rolled out from 1 June to help extend the lifespan of the nation’s diesel reserves.
He added that the implementation structure covers the entire biodiesel supply chain, including distribution to petrol stations, and has received strong commitment from the relevant ministries and agencies. – May 9, 2026