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Aug 18, 2024 - 11:20
By asia.nikkei.com

Malaysia's Hibiscus keen on acquisitions as Big Oil divests in Asia

KUALA LUMPUR -- Hibiscus Petroleum, a Malaysian oil and gas exploration company listed on the local exchange, is looking to acquire multinational energy companies' assets in the Asia-Pacific region as they divest amid pressures for decarbonization.

In an interview with Nikkei Asia, Kenneth Pereira, the company's founder and managing director, said that it aims to be a "regional consolidator" of established oil and gas assets so that it becomes "quite prominent" as an independent oil company.