23-04-2025
China Oil Firm United Energy Gets Private Loan From Arab Energy
Saudi Arabia-headquartered investment firm The Arab Energy Fund has agreed to provide a $100 million private loan to Chinese oil company United Energy Group Ltd., according to a person familiar with the matter.
Proceeds of the five-year financing would be used to repay loans, with some of the capital earmarked for oil fields the company operates in Iraq, said the person, who asked not to be identified. The Chinese exploration and production firm would also use the facility to bolster its cash reserves, the person added.
