IFC/SG MRT Trade

completed

BB Energy, an international trading company with main trading centers in Dubai and London, has been awarded a 2-year contract to supply refined oil products in Mauritania. The proposed financing consists of a short term trade facility, set up together with Société Générale, DFIs and other commercial lenders, to finance BB Energy’s importation of refined energy products into Mauritania. The funding will be used by BB Energy to purchase various liquid fuels from world markets and store the fuels at two fuels storage terminals located in Nouakchott and Nouadhibou, Mauritania, respectively. Both terminals are owned by Government of Mauritania and managed by professional management companies. The Nouakchott terminal is managed by Mauritanienne d’Entreposage des Produits Pétroliers (MEPP) and the Noudhibou terminal is managed by Société de Gestion des Installations Pétrolières (GIP), which is mainly owned by Société Nationale Industrielle et Minière (SNIM), the largest state owned company in Mauritania. SNIM has obtained ISO 14000 for its operations in mining operations.