VOL. XLV

No 24

17-June-2002

UAE

ENOC Secures Loans For Oil, Shipping Operations

Emirates National Oil Company (ENOC) said on 3 Junethat it had signed an agreement with Bahrains Gulf International Bank (GIB) for a three-year$50mn loan. The facility will be used to augment the companys domestic and internationalcorporate investments in the oil and gas sector, according to Husain Sultan, ENOCs chief executive.GIB would not comment on the interest rates for the loan, which is astraightforward...