The Nigerian National Petroleum Corporation, NNPC, Ltd. has said oil-backed loans would enable the company finance many capital projects, including drilling operations.
“As a global energy company, we need funding to undertake aggressive drilling campaigns. Naturally, we will require financing for our high capital expenditure projects. Reuters had reported that “Nigeria’s NNPC is in talks for another oil-backed loan to boost its finances and allow investment in its business. Its chief executive told Reuters, as pressure mounts on the state-backed oil company the economy depends upon.
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