Vector Energy Switzerland, the crude and oil products trading company of Rompetrol group, contracted with the Geneva subsidiary of BNP Paribas a credit line worth a maximum USD 150 M, which it will use to purchase oil, Mediafax informs.
The credit line is guaranteed by Rompetrol Rafinare (RRC), the company that operates the Petromidia refinery, with the crude and oil products it will purchase from Vector Energy, as well as with the crude it will process at Petromidia. Through the guarantee contract signed with BNP Paribas on March 14, Rompetrol Rafinare agrees to cede the bank all shares and rights upon the insurance company that issued the all-risk insurance for the goods provided as guarantee, which has the bank as beneficiary.
Related posts
Rompetrol subsidiary takes credit line worth USD 150 M from BNP Paribas
1
Vector Energy Switzerland, the crude and oil products trading company of Rompetrol group, contracted with the Geneva subsidiary of BNP Paribas a credit line worth a maximum USD 150 M, which it will use to purchase oil, Mediafax informs. The credit line is guaranteed by Rompetrol Rafinare (RRC), the company that operates the Petromidia refinery, with the crude and oil products it will purchase from Vector Energy, as well as with the crude it will process at Petromidia. Through the guarantee contract signed with BNP Paribas on March 14, Rompetrol Rafinare agrees to cede the bank all shares and rights upon the insurance company that issued the all-risk insurance for the goods provided as guarantee, which has the bank as beneficiary.
