September 25, 2019 / 8:08 AM / 3 months ago

Saudi Aramco seeks project finance loan of more than $1 bln-sources

DUBAI, Sept 25 (Reuters) - Saudi Aramco has asked banks to submit proposals for a project finance loan of more than $1 billion, two sources with direct knowledge of the matter said.

The state oil company’s request for proposals (RFPs) was sent this week, one of the sources said.

It was not immediately clear from the RFP the specific nature of the projects these funds will be used for, the sources said.

The request to banks went in a few days after the Sept. 14 attack on the two giant plants which caused raging fires and damage that halved the crude output of the world’s top oil exporter, by shutting down 5.7 million barrels per day of production.

Aramco was not immediately available to comment.

Reporting by Saeed Azhar and Davide Barbuscia; additional reporting by Dahlia Nehme, editing by Louise Heavens

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