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China private refiner Shandong Qingyuan seeks funds to boost output

China private refiner Shandong Qingyuan seeks funds to boost output
hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.

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Sumitomo Mitsui to acquire 4.99% stake in RCBC for P4.48B

By JON VIKTOR D. CABUENAS, GMA News
Published June 29, 2021 1:54pm
Rizal Commercial Banking Corp. (RCBC) on Tuesday said it has entered an agreement to sell a 4.99% stake to Japan’s Sumitomo Mitsui Banking Corp. (SMBC) for P4.48 billion.
In an emailed statement, RCBC said the agreement covers 101,850,000 treasury shares, with the proceeds to be used for lending activities.
“The proceeds from the investment will allow the bank to finance the different requirements of key customers in the corporate, SME, and consumer segments and expand the reach of its sustainable finance framework,” RCBC said.
SMBC ended the first quarter with $2.215 trillion in total assets and a capital adequacy ratio of 18.61%. ....

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Total Expects First Oil From Ugandan Project in 2025

Provided by
Dow Jones
By Nicholas Bariyo
KAMPALA, Uganda French oil giant Total SE said it expects to start commercial oil production from its Ugandan oil fields by early 2025.
As much as $10 billion is required to develop the oil fields and build a 900-mile export pipeline to tap around 1.4 billion barrels of crude from Uganda s western border with the Democratic Republic of Congo, according to the company s chief executive Patrick Pouyanne s remarks delivered Sunday in Uganda s lakeside city of Entebbe, where Ugandan and Tanzanian leaders signed several agreements to clear the project.
Total s latest projection is less optimistic than an earlier prediction of first commercial oil by 2024, as the landlocked nation grapples with the delayed commercialization of its crude fields, first discovered in 2006. Moody s Investor Service expected the commercialization of the oil fields to significantly boost Uganda s growth. ....

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Banks urged to steer clear of East Africa oil pipeline financing

Banks urged to steer clear of East Africa oil pipeline financing
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South Africa's Standard Bank to assess 'way forward' on East Africa oil pipeline

South Africa's Standard Bank to assess 'way forward' on East Africa oil pipeline
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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