Petroleum Africa
Find us on: 
Thursday, November 30, 2017
NNPC, Nigeria’s state oil firm, plans to set up a cash-for-crude prepayment with commodity traders. The prepayments, between $3.5 and $5 billion, will be used to fund oil and gas projects as well as related infrastructure, sources were cited in a Reuters report.
Standard Chartered has been hired to advise on the oil prepayment and a request-for-proposal was issued a few weeks ago for a loan of up to $5 billion, to be repaid with crude over five to seven years, the sources said.
A decision on this is expected before the end of this year.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="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">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
