Oman oil co uses structured deal for stretched banks

oil worker px230
By Bianca Boorer
24 Aug 2017

Oman Oil’s subsidiary, Oman Oil Company Exploration and Production (OOCEP), is to resurrect a structure for its latest loan that could help other borrowers from the sultanate to access capital markets as the country loads up on debt, writes Bianca Boorer.

In June last year, compatriot Petroleum Development Oman (PDO) signed a $4bn PXF facility with 17 banks. The facility was structured so that it was repaid by proven orders from buyers.

OOCEP is structuring its deal in the same way, with Vitol as one of the oil buyers. ...

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