Independent firm Kuwait Energy (KEC) last week pulled the plug on plans to borrow $100mn from the multilateral European Bank for Reconstruction & Development (EBRD). This comes less than a month after it inked an identically-sized “forward sale agreement” with trading house Vitol. The “financing facility for up to $100mn,” of which KEC drew down the first $40mn on 22 December, “will be repaid to Vitol via Kuwait Energy’s Iraqi crude entitlement.”...
Kuwait Energy Shuns EBRD For Vitol Cash
Published on Fri, 20 Jan 2017 - Volume: 60 Issue: 03Print
Please log in to read the rest of this story.
You may purchase access to entire MEES digital archives by subscribing. This subscription gives you access to all the content of MEES digital archives up to 1978!