Financing

Wintershall Dea Writes Off Nord Stream 2 Financing

Responding to Russian attack to Ukraine, Wintershall Dea announced that its AG’s Management Board decided to stop advancing or developing new oil and gas projects in Russia and to stop financing Nord stream 2 with ...

Lightsource BP Complete $380 MM Financing Package for Solar Projects

Lightsource BP company announced it has successfully completed the financing package of $380 million for Elm Branch and Briar Creek solar projects in Texas.

Africa Energy Increases South African Presence

Oil and gas company, Africa Energy Corporation, has signed definitive agreements to increase the company’s effective interest in Block 11B/12B offshore South Africa from 4.9% to 10%.

South Korea in Talks to Fund Solar Power Plant in Hurghada

South Korea is in talks to fund a 20MW solar power plant in Hurghada.

Congo Received $250m to Support Oil Fields

Congo has signed a facility agreement with Afreximbank under which the Bank will provide $250m in future flow pre-financing to meet Brazzaville’s strategic plan for its oil fields.

Tunisian Oil Firms Ramp up CSR Spending

Four Tunisian oil companies located in the Kebili region spent $1.3m for private initiatives boosting development through small projects.

Russia Gets Funding for Gas Plant from China

Two Chinese state banks have agreed to lend more than $12b to develop a Liquefied Natural Gas (LNG) plant in the Russian Arctic, in a boost for one of Russian President Vladimir Putin’s flagship projects.

Petroleum Portfolio Expanding at National Bank of Egypt

A source informed Amwal Al-Ghad that the financing portfolio for the petroleum sector recorded loans and credits of EGP 41b ($5.2b) at the National Bank of Egypt (NBE).

US Shale Oil Producers Struggle with Financing

Lenders are preparing to cut the credit lines to a group of junk-rated U.S. shale oil companies by as much as 30 percent in the coming days, dealing another blow as they struggle with a slump in crude prices, accordi ...

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