Local News
Tanker chartered by Petronas firm arrives with 1mil barrels of crude
PETALING JAYA: The Ocean Thunder, an oil tanker chartered by Petronas firm Petco carrying one million barrels of crude oil from Basra, Iraq, has safely arrived in Malaysia. Petronas confirmed this in a Facebook post, saying the shipment forms part of a broader...
How some Malaysians are coping with price hikes as the West Asia conflict grips global energy supply
KUALA LUMPUR, April 17 — The West Asia conflict has brought the world into an energy crisis with several sectors in Malaysia already feeling the impact, particularly the agricultural and logistics sectors. Meanwhile, Home Minister Datuk Seri Saifuddin Nasution...
Middle East conflict to weigh on Malaysian businesses in coming months: institute
KUALA LUMPUR, April 17 (Xinhua) -- The escalating conflict in the Middle East is expected to begin weighing on Malaysian business performance over the next two to three months, as rising costs filter through the economy, the Malaysian Institute of Economic Research...
MOF explains why fuel is getting pricier: Insurance up 17 times, shipping costs triple amid West Asia conflict
KUALA LUMPUR, April 18 — Today’s surge in fuel prices is not solely due to higher crude oil prices following the West Asia conflict, but also to increased risks to the global petroleum supply chain, driving up shipping costs and insurance premiums. The Ministry of...
What you need to know: Why Malaysia still imports oil and how the Hormuz disruption is driving up costs
KUALA LUMPUR, April 18 — Malaysia produces crude oil, but it still relies heavily on imports to meet domestic fuel demand that is nearly double local output, while global supply disruptions are also pushing up costs across the oil supply chain. The situation reflects...
7 Malaysian vessels transiting Strait of Hormuz in stages: PM Anwar
KUALA LUMPUR, April 10 (Xinhua) -- Seven Malaysian-owned vessels previously stranded in the Strait of Hormuz are making the journey away from the waterway in stages, Prime Minister Anwar Ibrahim said on Friday. One is on its way to its destination, and six others have...
Anwar: War pushing up freight and insurance costs, but Malaysia remains resilient
KUALA LUMPUR, April 9 — Prime Minister Datuk Seri Anwar Ibrahim today warned that global conflict is driving up shipping and insurance costs, even as Malaysia’s economy continues to outperform expectations and remains relatively stable compared with its neighbours. In...
Anwar urges Malaysians to brace for higher costs, says global energy recovery could take up to 5 years
Malaysia Prime Minister Anwar Ibrahim on Thursday (April 9) urged Malaysians to brace for rising costs amid energy shortages as the Middle East conflict drags on into its sixth week. Addressing civil servants at the Malaysia Ministry of Transport, Anwar pointed...
Philippines boosts fuel buffer with new Malaysia diesel shipment
As part of its efforts to secure 900,000 barrels of diesel in April, the Department of Energy (DOE) announced the arrival of the second government-secured diesel shipment under its Emergency Energy Security Program, consisting of 329,000 barrels from Malaysia. The...
PM says disbursement of funds for public transport, freight operators has begun through digital wallets
Prime Minister Shehbaz Sharif said on Saturday that the disbursement of relief funds to people operating public transport and freight vehicles had begun through digital wallets. In a post on the social media platform X, the Prime Minister’s Office (PMO) said that PM...