81623
Aramco, Petronas Close to Raising  $8b Loan
Aramco, Petronas Close to Raising  $8b Loan

Aramco, Petronas Close to Raising $8b Loan

Aramco, Petronas Close to Raising $8b Loan

Saudi Arabian Oil Company and Malaysia’s state-owned oil firm are close to raising an $8 billion loan to partly finance the construction of a planned refinery and a petrochemical complex in the Southeast Asian nation, people familiar with the matter said. The Middle Eastern oil giant, known as Aramco, and Petroliam Nasional Bhd. could sign the loan agreement as early as next month, said the people, who asked not to be identified because the information is private, Bloomberg reported.  BNP Paribas SA, HSBC Holdings Plc and Bank of Tokyo-Mitsubishi UFJ Ltd. are among lenders that have agreed to provide financing, the people said. The complex is part of a $27 billion project known as Refinery and Petrochemicals Integrated Development, or RAPID, in Malaysia’s southern state of Johor that’s due to come on stream in 2019.  Aramco agreed to invest $7 billion for half of the oil refinery and petrochemical plant last February, as it seeks to defend its status as the world’s biggest crude exporter in Asia.

 

Short URL : https://goo.gl/6z9EWY
  1. https://goo.gl/ywXLN2
  • https://goo.gl/sXUPKc
  • https://goo.gl/WmkLj4
  • https://goo.gl/Uuvfvk
  • https://goo.gl/q47qCo

You can also read ...

Shipments in the first two weeks of the month were 4.05 million bpd, the highest since November 2016.
Iraq exported oil at the fastest pace since late 2016 during...
Iran's June Onshore Oil Stocks Up 3.2m Barrels
Iran’s onshore oil stocks rose 3.2 million barrels in June...
Oil Prices Fall on Rise in US Stocks
Oil prices fell on Wednesday after news of a rise in US crude...
Investment in new conventional capacity is set to plunge in 2018 to about one-third of the total.
As the world’s energy sector moves toward greater...
Power Supply to Iraq Cut  Over Rising Domestic Demand
Energy Minister Reza Ardakanian said on Tuesday Iran has cut...
India Faces Iran Dilemma
The US embargo on Iran's oil shipments has put Indian Prime...
Gas Consumption Rising
Iran’s daily gas consumption hit 521 million cubic meters on...
Petrochem Company Indigenizes Equipment
In spite of international restrictions on accessing cutting-...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus