Bankwatch

Archives for oil

Despite the Russian invasion in Ukraine leading to EU and US sanctions against Moscow and major Russian energy companies, public banks supported by EU countries are just gearing up to offer a one billion dollar loan to Russian company Lukoil for gas extraction in Azerbaijan. by Fidanka Bacheva McGrath, cross-posted from the Bankwatch blog Half… » read more

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The findings of a visit to the EBRD sponsored Patos Marinza oil field in Albania show how local development and investments in resource extraction often do not go hand in hand. The case provides valuable lessons for the revision of the EBRD’s safeguard policies. by David Hoffman, cross-posted from the Bankwatch blog I first visited… » read more

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On December 18 the EBRD board of directors approved a loan of USD 50 million to finance a project aimed at the expansion of oil operations and reducing gas flaring in Egypt. Yet the tenuous political situation in the country continues to raise concerns about the bank’s ability to make a positive contribution towards the… » read more

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