Tuesday 10 March 2015

Ghana state oil company close to signing $700 mln loan

 
State-owned Ghana National Petroleum Corporation (GNPC) is close to signing a $700 million-loan from private commercial lenders led by commodity trader Trafigura as part of plans to recapitalise for expansion, its chief executive said on Tuesday.

GNPC holds a 13.64 percent stake in Ghana's flagship offshore Jubilee oil field, which is operated by Tullow Oil. It expects to export more than seven million barrels from the project this year, similar to the 7.68 million lifted in 2014, CEO Alexander Mould told Reuters.



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