Kosmos secures 0 mln car loan, Ghana sale in doubtPosted by Klemmensen Pittman on January 13th, 2021 LONDON, July 14 - Exclusive equity-backed Kosmos Energy stated it had protected a 0 million loan facility to fund the growth of its huge oil discoveries in Ghana, increasing doubts regarding an intended billion sale of the areas.Kosmos said in a statement on Tuesday that the Globe Financial Institution, Chartered Bank, BNP Paribas, Societe Generale and also others had accepted supply the money "It gives Kosmos with the funds required to fully establish the very first phase of the Jubilee oil field," said W. Greg Dunlevy, Kosmos Exec Vice President and Principal Financial Policeman. Kosmos was not offered for talk about whether it planned to offer the areas. Banking as well as oil industry sources claimed the Dallas-based firm had preserved Criterion Chartered to appear out potential buyers for its passion in Ghana's Jubilee Area, which Kosmos stated was the largest oil exploration worldwide in 2007. Experts said earlier this year Kosmos was most likely selling due to the fact that the difficult funding market would make it challenging for it to increase cash to money development. The debt facilities, which follow an easing in credit markets, may imply Kosmos will certainly push in advance rather than market the possession. " epoxy additives suggests they don't need to offer," claimed Tim Hurst-Brown, oil analyst at Mirabaud. Nevertheless, the facility might additionally be a technique to enhance Kosmos's bargaining power with possible customers, Hurst-Brown stated. Kosmos is part-owned by private-equity huge Blackstone. In Might, Blackstone's Chief Operating Police officer Tony James claimed the fund may be aiming to exit an energy business it was purchased. James did not identify the business however he said business, like Kosmos, had actually made significant hydrocarbon discoveries, recommending he might be describing the explorer. Chinese state oil company CNOOC (0883. HK), India's ONGC (ONGC.BO) and Western oil majors were viewed as potential purchasers of the Ghanaian passions, which analysts said can be worth more than billion. Ghana's deputy energy minister Kwabena Donkor claimed recently that Ghana's state oil company GNPC was interested in getting Kosmos's stake in the overseas field. Kosmos's partners in the area consist of London-based Tullow Oil (TLW.L) and U.S. oil manufacturer Anadarko Petroleum (APC.N). Like it? Share it! More by this author |