Malaysia Consumes 700k Barrels Oil Daily, Double Domestic Production
Summary
Malaysia's Ministry of Finance released data on April 18, 2026, revealing the country's daily oil consumption of approximately 700,000 barrels far exceeds domestic production of about 350,000 barrels per day. The ministry reported that crude oil prices have risen by nearly 40 percent due to West Asian geopolitical conflict disrupting global supply chains, with 38 percent of Malaysia's crude oil imports routed through the Strait of Hormuz. Petronas refines 48 percent of Malaysia's petroleum products while other oil companies handle 52 percent, and the country sources 48 percent of crude oil domestically with 14 percent from Southeast Asia, West Africa, and West Asia combined.
About this source
GovPing monitors Malaysia MOF for new banking & finance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 8 changes logged to date.
What changed
The Ministry of Finance Malaysia published a press citation on April 18, 2026, providing statistical data on the country's oil supply situation, including consumption versus production figures, import routing percentages, and price impacts from geopolitical disruptions.
Affected parties including energy companies, importers, and policymakers may use this informational data for supply chain planning and risk assessment, though this document imposes no compliance obligations or regulatory requirements on any specific entities.
Archived snapshot
Apr 27, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Malaysia Consumes 700,000 Barrels Of Oil Per Day, Double The Daily Production – MOF
Press Citations
18 April 2026
KUALA LUMPUR, April 18 (Bernama) – Malaysia still needs to import crude oil despite having its own oil production because domestic consumption is much higher, at about 700,000 barrels per day, compared to the 350,000 barrels produced per day, according to the Finance Ministry (MoF).
The ministry explained that the conflict in West Asia has disrupted the global oil supply chain, including transportation and delivery, and affected the major shipping route through the Strait of Hormuz.
“Crude oil and fuel supplies are experiencing disruptions and delays. Crude oil prices have risen by nearly 40 per cent, along with increases in logistics and insurance costs,” the MoF said in a statement today.
According to the ministry, 48 per cent of Malaysia’s petroleum product supply is refined by Petroliam Nasional Bhd (Petronas) while 52 per cent is by other oil companies in the country.
It noted that 48 per cent of Malaysia’s crude oil is produced domestically and 38 per cent is imported through the Strait of Hormuz. Seven per cent is sourced from the Southeast Asian region, West Africa, and others, while another seven per cent came from West Asia and elsewhere.
The ministry explained that most of the crude oil used in refineries still has to be imported because domestic production is insufficient to meet national demand.
“Nearly 40 per cent of the imports pass through the Strait of Hormuz, a major route that is currently affected,” it said, adding that reliance on imports is necessary to meet domestic demand for petrol, diesel, liquefied petroleum gas (LPG), and jet fuel.
Meanwhile, Petronas today confirmed that the vessel Ocean Thunder has arrived in Malaysia carrying one million barrels of crude oil from Basrah, Iraq, as part of the company’s ongoing efforts to maintain the stability of the nation’s fuel supply.
Press Release Press Citations Photos Videos Speech ASEAN 2025
Parties
Related changes
Get daily alerts for Malaysia MOF
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from MOF Malaysia.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when Malaysia MOF publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.