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FINANCIAL NEWS
Oman’s PDO to borrow USD 3.4bn worth loan
06 Jun 2016
(MENAFN) Petroleum Development Oman (PDO) approved that it will borrow USD 3.4bn from a global finance house.
Accordingly, the firm is in the process of raising a loan in order to fund its operations in response to the recent low oil price.
Moreover, the borrowed loan will help to meet the needs of PDO activities for the coming nine to twelve months.
The firm aims to deploy the whole amount in different kinds of activities, especially in oil and gas development, capital and operating cost.
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