Malaysia may become net petroleum importer by 2010

Malaysia may become a net importer of petroleum products by 2010 if usage is not conserved and demand continues to exceed supply. This is also possible assuming the growth of petroleum products consumption at 4% annually, said Petroliam Nasional Bhd (Petronas) President and Chief Executive Tan Sri Mohd Hassan Marican. “If the petroleum products demand in Malaysia goes up by that amount, the country will not be able to support its production, meaning that petroleum products demand will exceed domestic crude production,” Mohd Hassan said. (June 29, 2007)