DOSM: CRUDE OIL, CONDENSATE PRODUCTION RISES 1.1 PCT IN 2025

KUALA LUMPUR, March 4 (Bernama) -- Crude oil and condensate production rose by 1.1 per cent to 183.6 million barrels in 2025, reversing the 3.5 per cent decline recorded in 2024, said the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said the growth was supported by higher crude oil production and stronger condensate performance, which expanded by 6.1 per cent compared to 2.7 per cent in the previous year.

“In terms of composition, crude oil accounted for 67.9 per cent or 124.6 million barrels and condensate accounted for 32.1 per cent or 59.0 million barrels.

“Meanwhile, natural gas production recorded 2.9 triillion cubic feet (2024: 3.0 per cent; 2.94 triillion cubic feet),” he said in a statement.

Quarterly, Mohd Uzir said crude oil and condensate production increased by 4.5 per cent year-on-year in the fourth quarter (4Q) of 2025 (3Q 2025: 7.9 per cent), with total production amounting to 47.8 million barrels (3Q 2025: 45.1 million barrels).

This growth was primarily driven by a double-digit increase in condensate production, which rose by 18.0 per cent (3Q 2025: 9.7 per cent) to 17.0 million barrels.

However, crude oil production recorded a decline of 1.7 per cent compared to a 7.0 per cent growth in 3Q 2025.

In terms of composition, crude oil accounted for 64.4 per cent of total crude oil and condensate production, while condensate comprised 35.6 per cent.

Meanwhile, natural gas production registered 784.0 billion cubic feet, contracting by 1.1 per cent compared to 11.8 per cent growth in the preceding quarter, he stated.

He said the Weighted Average Lifting Price (WALP) for crude oil and condensate in Malaysia declined to US$66.1 per barrel in 4Q 2025 (3Q 2025: US$71.9 per barrel).

“This decrease was in line with the global downward trend in WTI and Brent prices, which fell to US$59.6 per barrel (3Q 2025: US$65.7 per barrel) and US$63.6 per barrel (3Q 2025: US$69.0 per barrel), respectively,” he said.

Commenting on external trade performance, Mohd Uzir said the export value of crude petroleum and condensates increased to RM6.1 billion in 4Q 2025 (3Q 2025: RM5.3 billion), in line with refined petroleum products, which also recorded a marginal rise to RM23.9 billion compared with RM23.8 billion in the previous quarter.

At the same time, exports of liquefied natural gas (LNG) also increased to RM13.6 billion during the quarter compared with RM12.2 billion in the preceding quarter.

Furthermore, he said imports of crude petroleum and condensates declined to RM11.5 billion in 4Q 2025 compared with RM16.0 billion recorded in 3Q 2025. Refined petroleum products also recorded a decrease to RM22.7 billion (3Q 2025: RM24.1 billion).

Meanwhile, imports of LNG showed an increase, amounting to RM1.6 billion in this quarter compared with RM1.3 billion in the previous quarter.

-- BERNAMA