KPG Signs A Marketing Agreement With Shell West

  • Oct 21, 2019 AEDT
  • Team Kalkine

Karoon Energy limited (ASX: KAR) has announced that its wholly owned subsidiary, Karoon Petróleo e Gás Ltda (KPG) has signed a marketing agreement with Shell Western Trading and Supply Limited (Shell West) to trade and ship crude oil production from the Baúna field Brazil.

  • The agreement is for 5 years and provides Karoon with access to Shell West’s global marketing and shipping platform.
  • Karoon and Shell West have now agreed terms, and Shell West has obtained internal credit approval, for a US$50 million term loan facility at Karoon’s Australian business level.

At AEST 1:05PM, the stock was trading at $1.100 per share, up by 2.32%.

 

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