KUALA LUMPUR: Crude oil and condensate production declined by 3.3 per cent in the second quarter of 2023 (2Q 2023), while that of natural gas contract...
Natural gas production amounted to 676.6 billion cubic feet in 2Q 2023, a 3.7 per cent contraction after a nine-month increasing trend : Crude oil and condensate production declined by 3.3 per cent in the second quarter of 2023 , while that of natural gas contracted by 3.7 per cent, said the Department of Statistics Malaysia .
Mohd Uzir said from 2015 to 2022, crude oil and condensate annual production peaked in 2016 at 250.1 million barrels; production began to decline following the onset of the Covid-19 pandemic and reached 189.1 million barrels in 2022. “Compared with the previous quarter, production of crude oil and condensate and natural gas declined by 5.6 per cent and 7.7 per cent, respectively,” he said.
Meanwhile, the export value of refined petroleum products rose to RM35.3 billion , with a total of RM7.4 billion or 21.0 per cent being exported to Australia, followed by Singapore and Indonesia .
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