Amir calls for cautious energy use amid Middle East tensions

2026-03-16 - 04:14

Finance minister II Amir Hamzah Azizan said the public and businesses should adopt a cautious approach to energy consumption. (Bernama pic) KUALA LUMPUR: Finance minister II Amir Hamzah Azizan has urged Malaysians and businesses to use energy more cautiously as tensions in the Middle East continue to create uncertainty in global energy markets. While Malaysia currently has sufficient supplies of oil, gas and coal, Amir said developments in the region could still drive up global prices, adding that the government’s immediate priority was ensuring a stable domestic energy supply. “Malaysia’s supply of oil, gas and coal is sufficient, and the delivery of petrol to stations as well as electricity supply remains stable,” he told reporters on the sidelines of the Malaysia Co-Investment Fund (MyCIF) Engagement Day here today. However, he said the public and businesses should adopt a cautious approach to energy consumption. “If there are ways for us to reduce energy use, it will help because the impact is not only on Malaysia but the whole world.” Amir added that the government is working with energy agencies and companies to maintain adequate domestic reserves, with national oil company Petronas and other industry players continuing to replenish stocks. When asked about fuel demand during the upcoming Hari Raya season, Amir said the government had already taken the expected surge in consumption into account. “Festive periods happen every year and oil companies are used to this pattern. In previous years, companies would place additional fuel tanks and supply facilities in high-demand areas to ensure there is no disruption in supply,” he added. The minister also said there were no plans for the government to introduce an economic stimulus package in light of the Middle East conflict as it remained uncertain whether the crisis would persist. He reiterated that, for now, the government is committed to ensuring stability over the short term. “The key point is that we do not yet know whether the crisis in the Middle East will persist. If it does not, I don’t think there is any need to implement an economic stimulus package,” he said.