Glencore Receives Capital for Chadian Crude

Thursday, July 10, 2014

Glencore Energy UK Ltd. received a $1.3-billion prepayment facility for advance payments for crude oil purchases from the national oil company of the Republic of Chad, Société des Hydrocarbures du Tchad (SHT).

The money will be used to finance SHT’s acquisition of Chevron’s upstream and midstream oil and gas assets in the country. The acquired assets include a 25% stake in seven fields in the Doba basin (operated by ExxonMobil) and a 21% stake in the 1,070 km Chad-Cameroon oil pipeline.

Lenders include Africa Finance Corp., Crédit Agricole Corporate and Investment Bank, Deutsche Bank, ING, First Bank of Nigeria, Natixis, and Société Générale.

« GO BACK

You may also like

" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">

First LNG Realized at the Greater Tortue Ahmeyim Project

" alt="United Energy Acquires Western Desert Producer APEX">

United Energy Acquires Western Desert Producer APEX

" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">

Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG

" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">

ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System

" alt="Tullow Highlights 2025 Operational Plans in Ghana">

Tullow Highlights 2025 Operational Plans in Ghana

" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">

TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years

" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">

Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession

" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">

Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market