ICBC loans $230 million to Emirates National Oil Company

By BizClik Admin

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, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

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

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia


Huawei smartwatch goes for gold with Ultimate Edition


How IKEA India plans to double business, triple headcount

Corporate Finance