Oman is looking to Swiss-headquartered trading firm Gunvor for an ‘up to’ $3bn loan linked to oil, Reuters reported this week. The sultanate is no stranger to the spot market, but this is the first time Muscat has sought to arrange a loan-for-oil agreement – a telltale (and risky) sign that a government is cash-strapped and looking to cash in on its oil output. The Kurdistan Regional Government (KRG) has sought a similar approach in the past (MEES, 8 April 2016), as has...
Oman To Tap Gunvor For $3BN
Published on Fri, 10 May 2019 - Volume: 62 Issue: 19Print
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