Credit Facility in Prospect for Iraqi-Saudi Pipeline

MEES learns that Iraq is negotiating a credit facility with European and Arab financial institutions to assist in the payment for the construction of the $508mn Iraqi-Saudi pipeline. The proposed financial package entails credits worth $220mn from the Italians, around $50mn from the French and over $50mn from the Arab Petroleum Investments Corporation (Apicorp). A decision on the matter is expected in January.

According to the...