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Ghana national oil company, Trafigura discuss $700 mln loan

Reuters - UK Focus

ACCRA, Nov 14 (Reuters) - Ghana National Petroleum Corporation (GNPC) is in talks with commodities trader Trafigura and banks for a $700 million five-year loan at 4.43 percent to fund oil and gas projects, GNPC and a source close to the deal said on Friday.

GNPC said it would fund the loan through its mandated share of national oil revenue and did not need parliamentary approval.

Senior (Other OTC: SNIRF - news) politicians from the ruling party and the main opposition told Reuters the loan should be subject to parliamentary scrutiny. (Reporting by Matthew Mpoke Bigg and Kwasi Kpodo in Accra and Simon Falush in London; Editing by Emma Farge and William Hardy)