Bracewell partners Adam Blythe and Oliver Irwin discussed with S&P Global how traders and lenders in Gulf states such as the UAE and Saudi Arabia are increasingly interested in helping to fill the financing vacuum in African oil.
“We have seen a reduction in the pools of traditionally available capital to fund oil and gas M&A and projects,” said Blythe. “One significant continuing and growing source is the traders, who are willing to fund acquisitions in return for production offtake rights.”
Irwin added: “A relatively new development that we are starting to see is Middle Eastern banks participating in upstream oil and gas financing.”
