Waha Oil Company Requests Ben Gdara to Contact the External Bank to Secure $800 Million Credit Coverage

Waha Oil Company has contacted the Chairman of the National Oil Corporation regarding its agreement with the Libyan External Bank to cover credits, with 25% of the coverage provided by the company and 75% by the bank, with a ceiling not exceeding $250 million.

The company stated that it is in discussions with the bank to possibly increase the mentioned ceiling to $800 million to ensure smooth operations and allow the opening of credits currently under process. The company is requesting approval to issue a letter to the bank, serving as a guarantee from the corporation to open the outstanding credits under process.