-- Malaysia will not export crude oil to ASEAN countries as it continues to import about 400,000 barrels per day, The Star reported Thursday, citing Investment, Trade and Industry Minister Johari Abdul Ghani.
He said the country is still a net oil importer despite being an oil producer. However, Malaysia remains a net exporter of liquefied natural gas (LNG), which helps balance the overall energy situation. He added that LNG surpluses are partly offsetting the crude oil deficit.
Johari also said the government is keeping RON95 petrol price unchanged at 1.99 ringgit per liter. He noted that while global tensions in the Middle East have some impact, the situation remains under control, the news outlet said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)