Blue Ocean Associates, a British oil business controlled by Irish tycoon Denis O'Brien, is in negotiations with a syndicate of banks over an extension of its $440 million credit facilities.
Blue Ocean hopes to reach agreement in the coming weeks with the syndicate, led by BNP Paribas, on a 12-month extension to its $440 million working capital facility.
The current 12-month deal with its banks is due to lapse in July, but Blue Ocean is hoping to...
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