Managing director Kenneth Pereira
Malaysian indie Hibiscus eyes regional growth
The company’s expansion will not end with its recent acquisition of Repsol assets in Southeast Asia, says managing director Kenneth Pereira
Southeast Asia has traditionally been the preserve of NOCs and IOCs. Powerful state companies such as Malaysia’s Petronas, Indonesia’s Pertamina and Thailand’s PTT dominated domestic hydrocarbon sectors, often in lockstep with their international partners. But, as in other parts of the world, that is changing with the entry of entrepreneurial outfits that are emerging to fill a gap left by departing IOCs. Hibiscus Petroleum, a Malaysian E&P company that also operates in the UK North Sea, is one such company. It acquired the Malaysian and Vietnamese upstream assets of Spain’s Repsol in early June, paying $212.5mn for a 35pc interest in the PM3 CAA production-sharing contract (PSC) and 60
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
