Shell and Guaranty Trust Bank to Loan $270mn to Nigeria’s Amni International

By March 16, 2018 Investment News

A Royal Dutch Shell subsidiary, Shell Western Supply, and Nigeria’s Guaranty Trust Bank have loaned $270mn to Amni International.

The Nigerian independent oil and gas producer will now grant Shell Western Supply access to 16,000 barres of oil per day, Reuters reported.

The oil is pumped in two fields in Nigeria’s Delta region, where Amni International will invest the loaned money to improve maintenance and further develop the fields.

“We are excited to work with GT Bank and Shell as commercial and financial partners to enable the realisation of Amni’s ambitious plans for growth,” Reuters reported Tunde Afolabi, CEO of Amni International, stating.

The Nigerian oil and gas company also manage an offshore concession in Ghana.

A similar deal was made in Nigeria early this year, with Vitol – and several backing banks – forming a $503mn oil deal with Shoreline.

Source: BusinessChief