IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Jul 2018 | Removal date: open ended
Still in force

Financial assistance in foreign market

On July 20th, 2018, a $467 million USD loan agreement was signed between a Japanese company called Mitsui Marine Development Co., Ltd. ("MODEC") and the Japanese Bank for International Cooperation (JBIC) for the expansion of Mitsui's drilling operations in their Mero oil field. The hope of this loan is to expand Mitsui's oil production to 180,000 barrels of crude oil per day and expand the crude oil storage capacity to 1.4 million barrels. 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

333 Petroleum oils & oils of bituminous materials, other than crude
2710 Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic con
271012 Light oils and preparations
271019 Other
271020 Petroleum oils and oils obtained from bituminous minerals (other than crude) and preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the bas
399 Other wastes & scraps
2710 Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic con
271099 Other

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