Hibiscus earnings to soar on rising crude oil prices

PETALING JAYA: Rising crude oil prices would translate to higher earnings for exploration and production company Hibiscus Petroleum Bhd, which is in the midst of acquiring upstream assets worth hundreds of million ringgit.

PublicInvest Research estimates that Hibiscus’ earnings could grow more than 100% year-on-year in the coming quarters, thanks to the favourable crude oil prices, coupled with the expected earnings from “Repsol assets” from the first half of financial year 2022 (FY22) onwards.