Petronas to negotiate with Russia for oil supply, says PM

Petronas to negotiate with Russia for oil supply, says PM

Anwar Ibrahim says Malaysia’s firm ties with Moscow allow Petronas to negotiate for oil as global supply pressures mount.

anwar ibrahim
Anwar Ibrahim said many European and American countries that previously imposed sanctions on Russia are now scrambling to buy oil from the country.
PETALING JAYA:
Prime Minister Anwar Ibrahim said today  that Petronas will negotiate with Russia to secure sufficient oil supply for domestic use.

Anwar said many European and American countries that previously imposed sanctions on Russia are now scrambling to purchase oil from the country, Sinar Harian reported.

“Fortunately, our relations with Russia remain good. So the Petronas team can negotiate with Russia,” he said at the launch of the upgraded Sultan Ismail Petra Airport terminal in Kota Bharu, Kelantan.

Transport minister Loke Siew Fook and Kelantan menteri besar Nassuruddin Daud were present at the ceremony.

Anwar, who is also the finance minister, said early diplomatic efforts by the government ensured that Malaysian oil tankers were among the first to pass through the critical route in the Strait of Hormuz in recent weeks.

He said this helped avert major disruptions to the country’s energy supply chain.

“Thankfully, a Petronas oil tanker arrived safely at the Pengerang Integrated Complex yesterday. Deliveries to Pengerang are crucial because refining can only be done there.

“That success was the result of the government’s early engagement with Iran’s leadership, which allowed passage while international negotiations over the future of the Strait of Hormuz were still at a deadlock,” he said.

The Ocean Thunder, an oil tanker chartered by Petronas firm Petco, arrived safely in Malaysia carrying one million barrels of crude oil from Basra, Iraq.

Petronas confirmed on Wednesday that fuel supply at its stations nationwide will remain secure until the end of June, extending its earlier projection by a month.

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