Investment, Trade, and Industry Minister Johari Abdul Ghani has clarified today that Malaysia remains a net importer of crude oil, currently bringing in approximately 400,000 barrels daily to meet domestic demand. This statement was made to address inquiries regarding why Malaysia is not selling crude oil to its fellow ASEAN neighbors despite being a known producer. The Minister explained that while Malaysia does produce high-quality crude, much of it is exported for premium prices, while the country imports cheaper grades for local refining and consumption.

The Minister emphasized that maintaining energy security is the government’s top priority, especially given the current volatility in global oil markets. He noted that Malaysia’s refining capacity and domestic consumption patterns mean the country must balance its exports with significant imports to keep fuel prices stable for the public. This clarification comes at a time when regional energy cooperation is being heavily discussed at the ongoing ASEAN Summit in the Philippines.

Looking ahead, the government is focusing on diversifying Malaysia’s energy mix to reduce long-term dependence on imported oil. This includes significant investments in renewable energy and digital infrastructure to optimize energy usage across industrial sectors. By being transparent about the country’s "net importer" status, the ministry aims to manage expectations among regional partners while highlighting the need for a more integrated ASEAN energy grid to share resources more efficiently.