Tokyo (Platts)--7Feb2013/659 am EST/1159 GMT
Japan is in the process of finalizing an additional loan deal to the UAE's Abu Dhabi National Oil Company, which might be signed on Sunday during a visit to the UAE capital by Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi, sources familiar with the matter told Platts Thursday. The loan would be provided by state-owned Japan Bank for International Cooperation and, once completed, would be the third loan provided by JBIC to ADNOC and comes as Japanese oil companies are seeking renewals of their concessions in Abu Dhabi. The sources declined to provide further details on the amount or conditions of the proposed loan. Japan's energy financing arm had signed a memorandum of understanding with ADNOC in December 2012 that called for "further strengthening of their comprehensive strategic partnership," and the latest loan agreement is seen as a follow-up to that agreement. JBIC has previously made loans of $3 billion each to ADNOC in November 2010 and December 2007.--Takeo Kumagai, takeo_kumagai@platts.com--Edited by Kate Dourian, kate_dourian@platts.com; Martin O'Rourke, martin_orourke@platts.com Sign up to Oilgram News today. Oilgram News brings fast-breaking global petroleum and gas news to your desktop every day. Our extensive global network of correspondents report on supply and demand trends, corporate news, government actions, exploration, technology, and much more.
Japan is in the process of finalizing an additional loan deal to the UAE's Abu Dhabi National Oil Company, which might be signed on Sunday during a visit to the UAE capital by Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi, sources familiar with the matter told Platts Thursday. The loan would be provided by state-owned Japan Bank for International Cooperation and, once completed, would be the third loan provided by JBIC to ADNOC and comes as Japanese oil companies are seeking renewals of their concessions in Abu Dhabi. The sources declined to provide further details on the amount or conditions of the proposed loan. Japan's energy financing arm had signed a memorandum of understanding with ADNOC in December 2012 that called for "further strengthening of their comprehensive strategic partnership," and the latest loan agreement is seen as a follow-up to that agreement. JBIC has previously made loans of $3 billion each to ADNOC in November 2010 and December 2007.--Takeo Kumagai, takeo_kumagai@platts.com--Edited by Kate Dourian, kate_dourian@platts.com; Martin O'Rourke, martin_orourke@platts.com
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