Circle Oil strike new deal for Moroccan gas
Cash flow and financial position remains under significant pressure
Embattled Irish oil company Circle Oil has announced a new customer for its gas in Morocco, bathroom fittings manufacturer SBS Porcher.
Circle has signed a memorandum of understanding with SBS Porcher to supply the company’s factory in the central Kenitra area with the gas discovered during the successful 2014/15 Sebou drilling campaign. According to the company, all parties expect to sign binding documentation in the coming months.
As part of this arrangement, a ...