29th May 2015 07:00
LONDON (Alliance News) - Russia-focused oil and gas company Urals Energy PCL on Friday said it has signed a pre-export short-term loan agreement with Petraco Co Ltd, the Channel Islands-based oil trader.
Under the deal, Petraco will provide Urals with a USD6 million short-term loan ahead of the anticipated August 2015 tanker shipment from the ArcticNeft project.
The loan will be repayable immediately following the loading of the next tanker shipment from ArcticNeft.
By Sam Unsted; [email protected]; @SamUAtAlliance
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