Hibiscus Petroleum Bhd. is set to take over Repsol’s operations in Malaysia and Vietnam as the Spanish company sells its exploration and production assets in a move away from Malaysia to focus on its core market. Repsol announced it will be selling oil exploration and production assets in Malaysia as well as Block 46 CN in Vietnam to a Malaysian Hibiscus Petroleum-owned subsidiary.
Kuala-Lumpur listed Hibiscus will acquire the whole equity interest in Fortuna International Petroleum Corp for $212.5 million. Rumors have been circulating…Are Regional Companies Ready To Dominate South Asian Oil Markets?
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