Big Oil is losing more financial partners.

The EBRD is the latest bank to announce it would halt financing for one or other form of oil and gas.

Last year, Deutsche Bank ended financing for new oil and gas projects in the oil sands and the Arctic region effective immediately.

In the United States, Goldman Sachs said in December 2019 that it would decline to finance new Arctic oil exploration and production and new thermal coal mine development or strip mining. Wells Fargo and JPMorgan have also said they would stop financing new oil and gas projects in the Arctic.

#petroleum #oil #gas #bank #finance #bank #loans

https://oilprice.com/Latest-Energy-News/World-News/European-Bank-For-Reconstruction-And-Development-Ends-All-Upstream-Oil-Gas-Fin.html