25 September 2019

Aramco requests banks proposals to finance a project loan of 1 billion dollars

The Saudi oil company Aramco has asked banks to submit proposals for a project finance loan for an amount of more than $1 billion, according to Reuters. The 14 September attacks on two Aramco oil facilities resulted in a daily production loss of 5.7 million barrels. According to Reuters, Saudi Arabia would have already restored more than 75% of the crude output lost after the attacks. Aramco’s Chief Executive Amin Nasser has declared that the company is still in process of estimating repair work but that it was “not that significant”.

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