Malaysia Not Selling Oil To ASEAN Members As It Still Imports 400,000 Barrels Daily -- Johari

From Niam Seet Wei

CEBU (Philippines), May 7 (Bernama) -- Malaysia does not sell oil to other ASEAN member states as the country is still importing about 400,000 barrels of crude oil per day, said Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani.

He said although Malaysia is fortunate to be an oil-producing nation, it is still considered a net oil importer as it imports around 400,000 barrels of oil daily.

“Because we still import about 400,000 barrels a day, we can't sell,” he told Malaysian reporters when asked whether any ASEAN country has approached Malaysia to sell oil amid the current global supply crisis.

Nonetheless, Johari said, when it comes to liquefied natural gas (LNG), Malaysia is still a net exporter. 

“The surplus we have from LNG can help cushion the deficit in crude oil,” he said after attending the 27th ASEAN Economic Community Council Meeting and the ASEAN Joint Foreign and Economic Ministers' Meeting here today.

Johari assured that the Malaysian government is currently still able to maintain the RON95 petrol price at RM1.99 per litre.

He said although Malaysia, like many other countries, is affected by the ongoing West Asia conflict, the impact remains manageable.

“We hope that the war can be settled quickly, but no one can say when,” he added.

-- BERNAMA