KUALA LUMPUR: Independent oil producer Hibiscus Petroleum said net profit in the third quarter ended March 31 fell 48% due to the steep decline in the price of crude oil.
"Given the prevailing low oil price environment, the Group is reviewing the offtake schedule for 4Q 2020 and 1Q2021 to consider taking advantage of potentially higher oil prices in future quarters," it said in a statement today.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!