Hibiscus on track to prosper with oil prices at US$70

HLIB Research said Hibiscus’ positive outlook is supported by the fact that all its major annual maintenance campaigns have been completed.

PETALING JAYA: The worst will be over for oil and gas company Hibiscus Petroleum Bhd as long as Brent-grade crude oil prices stay above US$70 per barrel.

Hong Leong Investment Bank Research (HLIB Research) said Hibiscus’ positive outlook is supported by the fact that all its major annual maintenance campaigns have been completed, allowing production to normalise in the coming quarters.