2012年7月1日星期日

Malaysia PM Najib: Still Marginal Net Exporter of Oil


02 Jul 2012      
  
 
KUALA LUMPUR--Malaysia continues to be a "marginal net exporter" of oil as local consumption almost equals the amount shipped overseas, Prime Minister Najib Razak said on his blog Sunday.

Malaysia's oil is more suited for international markets, whereas the Southeast Asian nation imports and processes Middle Eastern oil for domestic consumption, Mr. Najib said in a response to a citizen's question on fuel prices.

The government spends over 2 billion ringgit (US$632.3 million) a month on fuel subsidies to help keep a lid on inflationary pressure.

On average, Malaysia in 2011 exported 1.04 million metric tons of crude oil a month and imported 808,300 tons, data from the Department of Statistics showed. 

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