VOL. XXXII

NO. 25

27-MARCH-1989

IRAN

NIOC Asks Japanese Trading Houses for Prepayment Credit Facilities for OilSales

MEES understands that Iran's NIOC has recently approached a number of aJapanese trading houses - including Tomen, Mitsui and Mitsubishi - to arrangeprepayment credit facilities for oil sales similar to those extended by Europeanbanks earlier in the year.

Agreement is said to be close with Tomen for $100mn of credit from TokaiBank, while negotiations are continuing with Mitsui for...