00:00The government has started looking to other nations as possible energy suppliers if the
00:06Middle East conflict persists and the Strait of Hormuz remains closed, says Deputy Prime
00:11Minister Fadila Yusof. Fadila said Petronas has contingency plans to ensure Malaysia's
00:19energy supply remained stable, despite the conflict, with Australia and other Asia-Pacific
00:24nations being weighed as possible alternative suppliers.
00:29According to the Borneo Post, Fadila, who is also the Energy Transition and Water Transformation
00:35Minister, said alternatives are being prepared and that so far planning is progressing well
00:40and the supply remains stable.
00:44The Strait of Hormuz, through which 20% of the world's oil and gas normally flows, has
00:50been closed by Iran after it was hit by US-Israel airstrikes earlier this month, leading to
00:56crude oil surging to around US$100 per barrel.
01:00In the past two weeks, Putra Jaya raised the price of RON97, non-subsidized RON95 and diesel
01:08in West Malaysia by RM1.30, RM0.60 and RM1.60 respectively.
01:14Earlier today, Prime Minister Anwar Ibrahim said Malaysia remained a net oil importer while
01:21nearly 50% of the country's supply of oil passes through the Strait.
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