Interfax reported that Oil and gas company Kulczyk Oil Ventures Inc, which has assets in Ukraine has signed an agreement with its majority shareholders, Kulczyk Investments SA for the allocation of a loan worth up to USD 12 million.

The company said that the funds will be available until the end of this year at 15%. The loan is being raised for replenishing the company's circulating capital.

It was earlier reported that the European Bank for Reconstruction and Development signed an agreement with Ukrainian oil and gas company KUB-Gas for the allocation of a USD 40 million loan.

KUB-Gaz is developing the Olgovskoye, Makeyevskoye, Severo-Makeyevskoye, Vergunskoye and Krutogorivskoye fields in the Dneprovsko-Donetsk basin.

Source - Interfax

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