Kuala Lumpur, April 21 -- The Malaysian government is studying a proposal to establish a strategic petroleum reserve as part of the country's long-term energy security plan, amid concerns over global supply disruptions.
The proposal is among the issues being discussed by the government as it assesses long-term preparedness following supply disruptions caused by the closure of the strategic Strait of Hormuz for 48 days, Deputy Economy Minister Shahar Abdullah said in an interview with Bernama TV.
Shahar noted that the reopening of the Strait of Hormuz will not lead to the immediate stabilisation of oil prices due to damage to refinery infrastructure in the Middle East.
He added that although the strait has reopened, the recovery process w...