Malaysia’s Oil, Gas Production Dropped 3.3% & 3.7% In Q2

News Desk

Kuala Lumpur: Malaysia’s production of crude oil and condensate, and natural gas dropped in the second quarter of 2023, falling by 3.3 per cent and 3.7 per cent respectively, according to official data released on Friday.

With a production value of 45.5 million barrels in the second quarter of 2023, Malaysia’s crude oil and condensate production decreased by 3.3 per cent year-on-year. The contraction was influenced by the continuous decline in crude oil production by a negative 7.9 per cent.

Natural gas production came to 676.6 billion cubic feet in this quarter which shrank 3.7 per cent after nine months on an increasing trend.

In comparison 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.