Govt eyes Africa and Turkey for fuel supply
Malaysia's Economy Minister Akmal Nasir announced that the government is exploring new fuel supply sources in Africa and Turkey to mitigate risks from West Asian geopolitical tensions. The country currently has sufficient fuel stocks through July while officials conduct technical assessments on refinery compatibility.
Why it matters
Diversifying energy supply chains is critical for national economic stability and energy security in the face of global market volatility.
Share Economy minister Akmal Nasir says Putrajaya must first assess whether Malaysian refineries are capable of processing crude oil from these sources. Economy minister Akmal Nasir said the country’s fuel supply stocks are sufficient until the end of July. GEORGE TOWN : The government is looking to Africa and Turkey as potential new sources of fuel amid continuing tensions in West Asia, economy minister Akmal Nasir said today. He said Malaysia was also considering importing crude oil from the US and South America, as well as refined petroleum products from Singapore.
The report provides a factual account of government statements and economic policy considerations.
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