Published on Al Bawaba (http://www.albawaba.com)

Japan lends $3 billion to UAE oil company

Published February 10th, 2013 - 08:45 GMT via SyndiGate.info [1]

Japan will reportedly give a $3 billion loan to Abu Dhabi National Oil Co (ADNOC) to help boost the oil developer's upstream business and strengthen bilateral relations.

Japan will reportedly give a $3 billion loan to Abu Dhabi National Oil Co [2] (ADNOC) to help boost the oil developer's upstream business and strengthen bilateral relations.

The deal is set to be signed on Sunday by the Japan Bank for International Cooperation (JBIC) and ADNOC [3], reported Reuters, citing Japan’s Trade Ministry.

The loan is also expected to help Japan win new energy concessions or the renewal of existing concessions in the oil-rich nation, Reuters quoted the Trade Ministry said.

The loan is to be extended by JBIC and three private banks, the Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp and Mizuho Corporate Bank, the ministry reportedly added.

Japan is offering a $3 billion credit line to the Abu Dhabi National Oil Company
[4] © 2013 CPI Financial. All rights reserved.
Source URL: http://www.albawaba.com/business/japan-uae-oil-469491

Links:
[1] http://www.syndigate.info
[2] http://en.wikipedia.org/wiki/ADNOC
[3] http://www.albawaba.com/business/uae-japan-trade-461064
[4] http://www.cpifinancial.net