Urals Energy has entered into a short-term loan agreement with Petraco.
Under the terms, Petraco can advance up to $7.6million to the exploration and production company.
Urals Energy, which has operations throughout Russia, will repay the cash following the loading of its next tanker shipment, which is scheduled for mid-October.
Interest for the loan will be charged at 5% until the tanker is secured at which point it reduces to 2%.
Urals Energy will use the loan to progress its 2014 drilling plan and working capital financing.
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