Malaysia to study national petroleum reserve plan amid global supply risks, says Anwar

KUALA LUMPUR, July 15 — The government will study the need and strategies for creating a national petroleum reserve stock as a measure to ensure energy security and strengthen the country’s resilience in the face of geopolitical uncertainties and global supply crises.

Prime Minister Datuk Seri Anwar Ibrahim said the matter was decided in the National Energy Council Meeting No. 1 2026 which he chaired today, among other things to ensure that the country’s energy transition agenda continues to be implemented in an orderly and impactful manner based on the National Energy Transition Roadmap (NETR).

In a post on Facebook, the Prime Minister said that as of December last year, the country’s installed capacity of renewable energy (RE) had increased to 31 per cent in line with the government’s efforts to reduce dependence on coal.

“This effort is also strengthened through the successful implementation of the Corporate Renewable Energy Supply Scheme (CRESS) which is now equipped with a Battery Energy Storage System (BESS),” said Anwar.

In the transportation sector, Anwar said the implementation of B15 biodiesel continues to drive the country towards the use of more sustainable alternative fuels and will be strengthened through the development of the Petronas biofuel hub in Pengerang, Johor.

He said the public transport electrification project was also progressing according to plan, including the operation of 250 electric buses and the coverage of 800 kilometres of rail network nationwide, while Phase 1 of the development of a hydrogen hub for the Autonomous Rapid Transit (ART) system in Sarawak was scheduled for completion by the end of this year.

According to the Prime Minister, in a situation of geopolitical uncertainty and ongoing global supply chain disruptions, Malaysia needs to be prepared to ensure long-term energy security. — Bernama