Abu Dhabi Pledges Supply to Japan on Loan: Persian Gulf Oil
News from Bloomberg:

Abu Dhabi pledged continued crude supply to Japan after getting a $ 3 billion loan from a state- linked bank in the Asian country.

Refineries in Libya and Iran are running below capacity as the Persian Gulf country faces sanctions on its oil industry and the North African state’s fuel-processing plants continue to have technical faults, the International Energy Agency said.

The following is a weekly summary of Persian Gulf crude and product market news and forthcoming events:

Crude

Abu Dhabi National Oil Co. agreed to take a $ 3 billion loan from Japan Bank for International Cooperation, a government official said. JBIC, as the lender is known, is extending credit to Abu Dhabi’s state-owned oil company, known as Adnoc, for a five-year period, Japanese Trade Minister Toshimitsu Motegi said at a press conference in the emirate Feb. 10. The loan is the third between Adnoc and JB…………… continues on Bloomberg

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