Gas turbine project in Iraq secures $211m UK funding

UK Export Finance (UKEF) is to provide $210.8 million (£148.9m) to help General Electric (GE) Global Services secure a landmark gas turbine contract in Iraq. The project will upgrade and repair existing turbines across 10 sites to deliver an improved and secure power source, able to generate 6.5GW of capacity and powering millions of homes across […]

UK offers ‘enhanced’ overseas investment insurance

The UK is providing an “enhanced” overseas investment insurance (OII) policy to protect businesses investing abroad, including in the oil and gas industry. OII can protect an investor in the UK against potential losses on investments, primarily related to political or extraneous events. UK Export Finance (UKEF) is offering UK businesses wider access to government-backed […]

UK supports revolutionary green project in the UAE

The UK has supported a contract to build a revolutionary environmental building in the United Arab Emirates (UAE). Loans from UK Export Finance (UKEF) helped Carillion secure a contract worth “tens of millions of pounds” to build environmental management company Bee’ah’s new headquarters in Sharjah, UAE. The building, which was was designed by the late Dame Zaha Hadid, the world-renowned British […]

UK Export Finance pumps $400m into Ghanaian gas project

UK Export Finance (UKEF) is supporting a GE Oil & Gas contract in Ghana with funding worth $400 million (£318m). The cash will help the company secure an $850 million (£676m) deal for the Offshore Cape Three Points project. GE Oil & Gas is providing subsea production systems for the project, which will include the […]

UK and Kenya ink renewable energy MoU

The UK and Kenya have signed a Memorandum of Understanding (MoU) to increase co-operation on renewable energy. According to the British High Commission in Nairobi, it will promote opportunities for private sector trade and investment by the UK in the Kenyan green energy sector. The MoU was signed on behalf of the respective governments by […]