Malaysia’s oil production will be buoyant


Dateline 2013-06-10, Sun Daily:

Production growth is set to outpace consumption growth in the Malaysian oil sector due to positive demand forecasts for oil within the Asian region, said Ernst & Young in a June 5, 2013 report on the oil, gas and energy (OGE) sectors.

“(However,) domestic demand for oil will be negated with the removal of fuel subsidies and the switch towards coal-fired power plants,” it added.

Ernst & Young predicts that the growth trend is reversed for gas, where consumption growth will outpace domestic production growth. That’s because Malaysia’s gas price continues to be the lowest in Asean and gas remains the preferred energy fuel by power companies.

Ernst & Young said Malaysia’s future growth trajectory in OGE is supported by a range of government initiatives and incentives, as well as significant private sector investments in the OGE sectors and subsectors.

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