Nigeria’s Lekoil hit by the cancellation of Qatari funding
The oil company believed it had concluded a loan agreement with the Qatari sovereign wealth fund for the financing of its Nigerian field only to discover the fraudulent practices of its intermediaries.
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▪ Nigeria’s Lekoil hit by the cancellation of Qatari funding
▪ The oil company believed it had concluded a loan agreement with the Qatari sovereign wealth fund for the financing of its Nigerian field only to discover the fraudulent practices of its intermediaries.
▪ https://www.africabusinessplus.com/en/802267/nigerias-lekoil-hit-by-the-cancellation-of-qatari-funding/
This development comes as a cold shower for Nigeria’s Lekoil. After the Qatar Investment Authority (QIA) announced the financing of its OPL 310 project on 2 January, the situation has been thrown into doubt. Indeed, the oil group – listed on the AIM in London – has reported fraud by its intermediaries.
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