Shoreline Natural Resources secures $500M Islamic financing from Qatar Islamic Bank to fund OML 30 drilling program in Niger Delta.
Amount Raised
$500 Million
Round Type
Debt Financing
Ondo StateEnergyOil And GasRenewable EnergyInvestors
Description
Shoreline Natural Resources, the upstream arm of Kola Karim's Shoreline Group, has secured a $500 million Islamic financing package from Qatar Islamic Bank (QIB) to fund a major drilling programme at OML 30 in the Niger Delta. The financing, structured as Islamic financing compliant with Sharia principles, will enable production targets above 100,000 barrels per day by the end of 2027. Unlike traditional interest-based loans, QIB will take a share of the asset or revenue, aligning the bank's returns directly with well performance. This represents a shift in funding sources for Shoreline Group, which previously raised capital from Vitol, Farallon Capital Management, and Nigerian banks in 2018.
Quick answer
Shoreline Natural Resources raised $500 Million in a Debt Financing round, dated October 2, 2026. Investors: Qatar Islamic Bank. Shoreline Natural Resources is based in Ondo State, Nigeria.
- How much did Shoreline Natural Resources raise?
- Shoreline Natural Resources raised $500 Million in a Debt Financing round on October 2, 2026.
- Who invested in Shoreline Natural Resources?
- Qatar Islamic Bank is named as investors in this round.
- What does Shoreline Natural Resources do?
- Shoreline Group is a diversified Nigerian-led energy conglomerate founded by billionaire Kola Karim.
- Where is Shoreline Natural Resources based and how big is it?
- Shoreline Natural Resources is based in Ondo State, Nigeria.
Source: Fundz verified event record.
Who else raised in Energy and Oil And Gas around the same time
Companies in the same sectors as Shoreline Natural Resources that raised within 45 days of this round, from Fundz verified event records.
- Exus Renewables raised $345M (Debt Financing) on November 12, 2026.
- FluxPoint Energy raised an undisclosed amount (Seed) on November 10, 2026.
- DTE Electric Company raised $600M (Funding Round) on November 5, 2026.
- CVR Energy raised $490M (Post-IPO Equity) on November 5, 2026.
- Concentric Energy Advisors raised an undisclosed amount on November 4, 2026.
- OGE Energy raised $750M (Post-IPO Equity) on October 28, 2026.
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