OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017 - Hallo friendsMY LIVE MY WAY, In the article you read this time with the title OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article my style, Article my way, Article New ways, Article their way, We write this you can understand. Alright, good read.

Title : OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017
link : OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017

OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017

We've talked about this at length: the situation OPEC is in. Now more news to validate their sad state of affairs. From Reuters, UAE oil giant in talks to obtain loan of up to $5 billion. Data points:

• Abu Dhabi oil giant: Adnoc
• seeking a $5 billion loan
• "a sign that the region's giant oil companies are increasingly turning to the debt markets to fund expansion" (or to simply survive?)
• also, in the alternative, considering a $3 billion bond issue
• would be the first large bank borrowing since Adnoc's first bond deal last year; with Japanese banks, for $3.3 billion
• reminder: in April --three months ago -- Saudi Aramco raised $3 billion through Islamic bonds
• Oman: working on a pre-export financing loan of around $1 billion after closing a $2 billion loan package a few weeks ago
• Adnoc's CEO has been in place less than a year (similar to length of time for Prince Salman)

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Thus Article OPEC Is In Deep Doo-Doo: UAE Oil Giant To Seek Loan -- Reuters -- July 24, 2017

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