Shell unit, Nigeria's GT Bank grant Amni International US$270mn loan

Shell NigeriaBritish oil major Royal Dutch Shell's unit and Nigeria's Guaranty Trust Bank granted Nigerian oil producer Amni International Petroleum Development a loan amounting to US$270mn

In exchange, Shell Western Supply and Trading, will get sole access to 16,000 bpd of oil produced by the company in two fields off Delta region.

Amni said that the loan would help the company to further develop the Okoro offshore oilfield.

“We are excited to work with GT Bank and Shell as commercial and financial partners to enable the realisation of Amni’s ambitious plans for growth,” Amni’s Chief Executive Tunde Afolabi said in the statement.

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