By John Lee. According to a report from Reuters, commodities giant Glencore will likely fall short of its target of raising $550 million to pre-finance the purchase of Kurdish oil. Industry sources told the news agency that investors are exercising caution despite the 12 percent bond yield, and that Glencore has received investor commitments for […]
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Glencore "Pre-Pays $300m" for Kurdish Oil
By John Lee. Anglo–Swiss commodity trader Glencore has reportedly paid Iraqi Kurdistan $300 million as an advance for oil shipments. Anonymous sources told Reuters that the company made a prepayment in recent days, and will start receiving crude from mid-year. The Kurdistan Regional Government (KRG) said on Monday it had received $100 million in February […]