VOL. XLII

No. 18

3-May-1999

UAE/KUWAIT

IGP And ENOC Sign Financing For Products Tanker Purchase

Kuwait痴 Independent Petroleum Group (IPG) and Dubai痴Emirates National Oil Company (ENOC) announced on 28 April the signing of aloan agreement with the OAPEC-sponsored Arab Petroleum Investments Corporation(Apicorp) worth $12mn to facilitate the purchase of the Gulf Star, a 40,537 dwtproducts tanker. The medium-term loan was signed in Bahrain on 27 April and isto be repaid over seven years. Total cost of...