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Adnoc secures $3bn loan from Japan to boost upstream business
- United Arab Emirates: Saturday, February 09 - 2013 at 04:55
Abu Dhabi National Oil Co (Adnoc) has secured a $3bn loan from the government of Japan to help boost the state-run oil developer's upstream business, Reuters has reported. This marks the third loan for Japan after it granted $3bn each in 2007 and 2010 to boost Adnoc's oil supply capacity that would ensure stable oil exports to Japan. The loan is expected to help Japan win new energy concessions or the renewal of existing concessions in the Gulf country, the Japanese trade ministry said.
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