KUALA LUMPUR (Kyodo) Malaysia, a net oil exporter, does not plan to build an emergency oil stockpile because it would be too expensive, Deputy Prime Minister Najib Abdul Razak said Monday.
Najib was essentially pouring cold water on an offer by Japan last week to help finance and provide the technical assistance to Southeast Asian countries to build an oil stockpile as a security response measure.
"It requires a lot of money for that. I don't think we have an immediate plan to do that. We are not going to war, so it's OK," he told reporters after opening the Asia Oil and Gas Conference.