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.
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