Malaysia's crude oil supply remains abundant
Hanoi, April 7 -- Kuala Lumpur (VNA) - Malaysia has a relatively sufficient crude oil supply compared with other ASEAN countries, according to the national oil and gas company Petroliam Nasional Bhd (Petronas). Petronas President and CEO Tan Sri Tengku Muhammad Taufik Tengku Aziz, said that almost 40% of Malaysia's crude oil imports pass through the Strait of Hormuz, compared with nearly 90% for other ASEAN nations that rely on the route. Malaysia, as a consumer market, cannot be fully insulated from rising oil prices. Tengku Muhammad Taufik said that Malaysia's domestic crude oil production has been gradually declining as its mature fields undergo natural depletion. Malaysia produced more than 700,000 barrels per day in the 1990s and ear...
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