ICBC loans $230 million to Emirates National Oil Company
The Industrial and Commercial Bank of China (ICBC) has agreed a loan of US$ 230 million to the Emirates National Oil Company (ENOC).
State-owned ICBC is the largest commercial bank in the world and the five-year loan is part of ENOC’s ‘sustainable funding strategy’.
Petri Pentti, Chief Financial Officer at ENOC Group commented: “ENOC has a long-term strategy in place which is not greatly impacted by the change in the economic climate of the region. We are confident of our growth plans and will continue to move ahead with our expansion plans across supply trading & processing, retail, marketing, terminals and exploration and production businesses.”
Follow @BizReviewAsia
Featured Articles
Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity
On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it
Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist