Staatsolie seeks new loan

Sources claim that the State Oil Company (Staatsolie) is about to haul in a $ 680 million loan at an annual interest rate of 8%. When asked to comment on the reports Staatsolie CEO Rudolf Elias revealed that the company is currently negotiating with foreign banks in order to convince them to refinance the loan of $ 800 million from the period 2008-2014. Elias made it clear that no additional money will be borrowed in case Staatsolie decides to do business with another bank. He pointed out that 150 to 180 million US dollars from the previous loan have already been paid back during the past two years. The company is currently considering the option of refinancing the remaining $ 650 million. The refinancing of the loan will enable the company to pay off the loan over a longer period and under better terms. “The negotiations are still in full swing,” said Elias who added that he expects things to be clear by the end of this month. Staatsolie’s Vision 2030 is geared towards a sustainable energy future for Suriname and making a strong contribution to the advancement of the Surinamese society. This vision represents the spirit and energy of Staatsolie’s successful history of development, growth and its distinctive value-based performance culture. Staatsolie wants to become a regional player with a global identity in the energy market.