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New loan for South Sudan crude sales

The Ministry of Finance has agreed a loan with the African Export Import Bank (Afreximbank) against future crude sales to finance infrastructure development and oil well rehabilitation, according to documents seen by African Energy. The loan, concluded in recent weeks, is worth $400m, two sources close to the market told African Energy.The structure of the deal is similar to an existing crude pre-sales agreement between the government and Afreximbank. Crude cargoes will be bought by local/Indian joint venture Trinity Energy and lifted by Glencore.

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African Energy Gulf States Newsletter