In a statement today, the national energy company said it is not aware of, nor involved in, any such arrangement.

“Petronas’s immediate focus is to ensure that Malaysia has a reliable and continuous fuel supply.

“This remains our utmost priority, supported by established supply networks and close coordination with the government,” it said.

ABS-CBN, a major Philippine media and news organisation, reported on Friday that the Davao del Norte province in Mindanao planned to import 44 million liters of diesel from Petronas.

Restrictions in the Strait of Hormuz, a key shipping lane that carries about 20% of the world’s oil, have affected energy supplies across the globe.

The Philippines declared a national energy emergency on Tuesday, with president Ferdinand Marcos Jr stating that urgent measures were necessary to ensure the stability of energy supplies, continuity of economic activity, and delivery of essential services.

On Tuesday, domestic trade and cost of living minister Armizan Mohd Ali assured the public that Malaysia’s current supply of petrol, diesel and liquefied petroleum gas remains stable, with no shortages reported at the time.