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 around Repsol’s departure from Malaysia since February this year. But Repsol still holds a significant stake in the Southeast Asian oil sector, with major assets in Vietnam and Indonesia. The shift appears to be in a bid for Repsol to focus its portfolio on a core set of countries and activities, following its recent withdrawal from Russia and the ceasing of its oil production […]