African Export-Import Bank (Afreximbank) has approved a $200 million financing facility to support Shoreline Power Company Limited and Arkad SpA’s participation in the Hassi Bir Rekaiz (HBR) Phase 2a field development project in Algeria, one of the country’s largest upstream infrastructure developments. The financing will support Arkad’s 44% share of the $980 million engineering, procurement and construction (EPC) contract […]
Nigeria’s Midstream and Downstream Gas Infrastructure Fund (MDGIF) and the African Export-Import Bank (Afreximbank) have signed a memorandum of understanding (MoU) for a four-year debt and equity plan of up to $500 million to expand and modernize Nigeria’s natural gas infrastructure.
African Export-Import Bank (Afreximbank) has unveiled plans to establish a $1 billion oil service financing facility in Guyana, which aims to enhance local participation in the country’s fast growing oil industry.
Under the terms of the agreement signed on the sidelines of the African Energy Week last month, JE Energy Limited, which has been awarded contracts to lift and market crude oil from Guyana, shall utilize the two-year facility to finance the purchase and sale of crude oil from Guyana’s Ministry of Natural Resources for onward sale to reputable international offtakers.
The eagerly anticipated African Energy Bank will launch by June 30 after selecting a host nation this month and hopes to raise an initial $5 billion from African signatories, international financiers and Middle Eastern states, its head told S&P Global Commodity Insights.
Nigeria has received 60% of the African Export and Import Bank’s (Afreximbank) N30 billion investment in Africa’s oil and gas sector.