Hibiscus Petroleum Bhd MD Dr Kenneth Gerard Pereira(filepic) said the benchmark Brent crude oil, currently trading at US$63 per barrel, was a strong indication of underlying demand due to growing world population.
PETALING JAYA: Hibiscus Petroleum Bhd
has posted a net profit of RM50.1mil in the three months ended Dec 31, boosted by contributions from recently acquired assets in Sabah and increased output from the Anasuria cluster in the UK.
Revenue jumped to RM165.16mil compared with RM76mil a year earlier.
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