PM Anwar Says PETRONAS Is No Longer A Net Oil Exporter, Malaysia Now Has To Buy Fuel

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Prime Minister Datuk Seri Anwar Ibrahim has revealed that Petroliam Nasional Bhd (PETRONAS) is no longer a net exporter of oil, saying Malaysia now has to purchase fuel to meet its needs

Speaking at the opening of the MADANI Rakyat Programme, Anwar said the country's current fuel reserves are only secure for the immediate future.

"PETRONAS is no longer a net exporter; we now have to purchase oil. Our reserves are sufficient for April and May, I can guarantee that. For June, it is uncertain, and we will have to wait."

His remarks come amid ongoing global tensions affecting energy supply, particularly involving Iran, the US, and Israel.

He said global conditions are already forcing drastic measures in other countries

Anwar said Malaysia is not alone in facing pressure, noting that several countries have already taken extreme steps to manage fuel shortages.

"In ASEAN, some countries have been forced to impose oil rationing. Several have shut 400 petrol stations. In some cases, workers living near cities must walk to their offices.

"But here, people simply get angry, shout, and complain, without realising the problem and taking steps to address it."

He added that the government is closely monitoring the situation through daily discussions with economists, policymakers, and PETRONAS.

"We hold daily meetings to find solutions."

He also addressed rising costs, saying oil prices are influenced by multiple factors

According to Anwar, many Malaysians may not fully understand why prices continue to rise despite the country producing oil.

"Many do not understand the bigger picture… why shipping oil through the Hormuz Strait is allowed, yet the prices of goods rise because oil costs more."

He explained that global pricing is affected by factors beyond supply alone.

"Insurance alone increases costs. Freight charges for shipping are also not cheap. All of these factors push prices up."

While acknowledging the challenges faced by the public, Anwar said Malaysia is still managing the situation steadily compared to some other countries.

"We are aware of the hardships people are facing… yet we are still able to plan and manage calmly and effectively."

He also called on Malaysians to be more understanding of the broader situation, saying, "Learn to be grateful. Learn to be resilient in facing difficulties."