Trafigura Signs $1 Billion Oil Prepayment Deal with Gabon
Trafigura signed a $1 billion deal with Gabon today for crude oil deliveries over seven years. The agreement will help strengthen the nation's foreign reserves.
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Global commodities trader Trafigura has finalized a $1 billion prepayment agreement with the Republic of Gabon, a deal that secures crude oil deliveries for the company over a seven-year period. Under the terms of the arrangement, Trafigura will provide upfront financing to the African state in exchange for future supplies of crude, including volumes linked to Brent Crude Oil.
