Oman oil firm raises $4b loan for projects

Muscat: State-owned Petroleum Development Oman, the country’s top oil and gas exploration and production company, has obtained a $4 billion (Dh14 billion) loan from international banks to help finance construction of new facilities, it said on Wednesday. The five-year loan, known as a pre-export facility, was priced at 160 basis points over the London interbank offered rate.