Harboursandport.com: Lagos - LEKOIL Oil and Gas Investments Limited (LOGL), a member of the LEKOIL Limited Group, has fully repaid the outstanding Advance Payment Facility with Shell Western Supply and Trading Limited (SWST), the proceeds of the new US$11.5 million debt facility obtained from FBNQuest Merchant Bank (FBNQuest).
Following this repayment, LOGL has an outstanding balance of interest-bearing loans and borrowings, which, however, exclude intercompany loans of US$21.4 million.
Speaking on this feat, the Chief Executive Officer, (CEO), LEKOIL, Lekan Akinyanmi, appreciated the support of SWST who is also a member of the Royal Dutch Shell plc group of companies, as he looks forward to continue working with them.
He stated: "We would like to thank Shell Western for their support with our business operations and look forward to continuing our mutually beneficial and value-enhancing relationship."
LEKOIL is an oil and gas exploration and production company with a focus on Nigeria and West Africa, announces today that LEKOIL
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