ANOPC: A partial sovereign solution

In:

Oil & gas

Region:

Middle East & Africa

Max Thompson

Managing Editor

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Egypt’s state-owned oil refiner Assiut National Oil Processing Company (ANOPC) sealed an innovative $1.5 billion ECA-covered loan to back the Assiut oil refinery expansion project last month. The deal provides a viable financial template for future Egyptian projects that lack a sovereign guarantee to cover the entire financing.