4.2 C
Bucharest
March 2, 2021
BUSINESS

Rompetrol subsidiary takes credit line worth USD 150 M from BNP Paribas

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

Deputy PM Viorel Stefan: Romania, fifth among EU 28 member states due to 4.2 percent growth

Nine O' Clock

Minister of Research Teleman: CEU yber Center in Bucharest could become operational by the middle of this year

NINE O'CLOCK

Isarescu: More prudence for banks cutting interest on deposits; still room for cuts in loans

Nine O' Clock
BUSINESS

Rompetrol subsidiary takes credit line worth USD 150 M from BNP Paribas

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

SOCAR vice-president Gasimov: AGRI project isn’t dead, needs more time

Nine O' Clock

Price rise for natural gas of 1.5-2.5 pc as of July 1

Nine O' Clock

BRD – Groupe Societe Generale, RON 37 M profit in Q1

Nine O' Clock