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The Kuwait-listed Independent Petroleum Group (IPG) has renewed a $200 million loan facility with a local bank to finance its ongoing oil-related activities.
The group, which markets petroleum products and crude oil, has said the facility will have no financial impact on its operations.
This is IPG’s second loan in a week, with the company also renewing a $130 million credit facilities agreement with a local bank to finance its ongoing core activities.
(Writing by Bindu Rai, editing by Brinda Darasha)
