Letter of credit

GNPC Received $500m LOC for Sankofa Gas

HSBC and Standard Chartered issued a $500m letter of credit (LOC) to Ghana National Petroleum Corporation (GNPC) to guarantee payments for gas extracted in 2018 from the offshore Sankofa field.

Banque du Caire Issues Letters of Credit Worth $36m to EGPC

Ayman Mukhtar, General Director of the Banque du Caire’s Corporate Credit Sector, announced that his bank has agreed this week to open a credit line worth $36 million for EGPC to import crude oil.

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