Satorp Negotiating with Local and International Banks for a $4-Billion Credit Facility

摘要

Saudi Aramco and the French company Total are said to be in discussions with local and international banks for the arrangement of credit facilities totaling SR 15 billion ($4 billion) to part-finance the refinery being developed by their joint venture, Saudi Aramco Total Refining and Petrochemical Company (Satorp), according to sources quoted by Al Riyadh. The two companies had asked financial institutions to submit proposals by the end of November, although at the time they were seeking to raise borrowings of SR 30 billion (AOG, 1 Feb., 2009).