French BNP Paribas promises to cease funding shale oil and gas

12/10/2017 11:56 Renewable


The BNP Paribas Group stated its intention to end cooperation with business entities which operate in shale gas or tar sands fields.   


According to the bank officials, the transportation and export of shale oil and gas will also be affected.


The French banking giant is strongly committed to approaching climate change and backs up its earlier decisions to cut funding for coal-fired power generation and increase investment in renewables to €15 billion by 2020.


The financial institution plans to allot another €100 million for start-ups developing innovative solutions for an easy shift to the low carbon energy.


CEO Jean-Laurent Bonnafé voiced that the bank is a long-lasting partner to the energy industry and a great supporter of the budge to a more sustainable world, aiming to facilitate energy transition and contribute to a low-carbon economy. 

Investment in new nuclear declines to five-year low

19/07/2018 09:39:00

Global energy investment fell for the third consecutive year in 2017, according to the International Energy Agency (IEA). Investment in nuclear power declined by nearly 45% last year to USD17 billion. Although spending on new reactors reached the lowest level in five years, investment on upgrades of existing units increased.


EIB to back renewables in Belgium, Spain, Portugal

19/07/2018 09:32:00

The European Investment Bank (EIB) has approved more than EUR 3.4 billion (USD 3.96bn) in financing for clean energy projects globally, among which is an offshore wind farm in Belgium.


Daily (18.07.2018): German spot power price dropped by almost 5% on Tuesday, on stronger wind generation and reduced demand

18/07/2018 11:28:00

Oil prices increased on Tuesday, due to a decline in stocks and as two of four processing terminals in Venezuela are likely to close because of scheduled maintenance this month. Brent crude rose by 0.5% to $72.16 a barrel. However, WTI crude was almost steady at $68.08 a barrel.