(Bloomberg, 8 March 2020) Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal Ltd. Yet there was the Australian miner on a conference call last month announcing the refinancing and...
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2020/03/29
Country: Australia, China, Indonesia, Japan
ECAs: EXIM Bank China, Japan Bank for International Cooperation
Issue: Climate Change, Oil, Gas and Mining
2020/02/29
Country: Canada, China, Japan, Korea, United Kingdom
ECAs: Export Development Canada, Export Import Bank of Korea, Japan Bank for International Cooperation, Sinosure
Issue: Oil, Gas and Mining
Member: Friends of the Earth USA
(Space Daily / AFP, Paris, 30 January 2020) Rich nations are funnelling cash through government-backed financial institutions to provide $30 billion to fossil fuel projects each year that "run counter to the Paris Agreement", a new analysis showed Thursday. The export credit agencies (ECAs) of...
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2020/01/29
Country: Japan
Issue: Oil, Gas and Mining
(The Nation, Lagos, 20 January 2020) The Nigeria Liquefied Natural Gas Limited (NLNG) has appointed one of Japan’s leading banks and the core unit of Sumitomo Mitsui Financial Group – Sumitomo Mitsui Banking Corporation (SMBC) and one of Nigeria’s leading banks – Guaranty Trust Bank Plc, as...
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2019/11/29
Country: France, India, Japan, United Kingdom, USA
Issue: Climate Change, Oil, Gas and Mining
(Hydrocarbons Technology, London, 27 November 2019) The African Development Bank (AfDB) has approved a $400m loan to support construction of the integrated liquefied natural gas (LNG) plant and liquefaction facility in Mozambique. The Mozambique LNG Area 1 Project is led by the French...
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2019/08/30
Country: Australia, China, Indonesia
ECAs: EXIM Bank China
Issue: Debt, Oil, Gas and Mining
(Bloomberg, Suai, 28 August 2019) Colonized by Portugal, invaded by Indonesia, suckered by Australia, Timor-Leste doesn’t need another abusive relationship. But the clock is now ticking for Timor-Leste to find international funding for a $12 billion energy project so work can start before its...
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2019/04/30
Country: China
ECAs: Sinosure
Issue: Oil, Gas and Mining
(Kyiv Post, Kyiv, 2 April 2019) China has been eyeing strategic investments and acquisitions across Ukraine for at least a year now – but a Chinese state-owned credit firm, Sinosure, appeared to up the stakes on April 2 as it inked a deal to provide $1 billion in insurance coverage to Ukrainian...
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2019/03/30
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
Issue: End Coal Financing, Oil, Gas and Mining
(Sydney Morning Herald, Sydney, 5 March 2019) A major oil and gas company wants Australian taxpayer money spent on overseas energy projects, stoking fears that a Morrison government plan to boost development in the Pacific is a smokescreen for fossil fuel investment. A government amendment to...
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2019/02/27
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
Issue: Oil, Gas and Mining
(Global Trade Review, London, 20 February 2019) Australia’s export credit agency, Export Finance and Insurance Corporation (Efic), could receive an A$1bn cash injection of callable capital, a mandate to finance larger overseas projects and a new name as part of a bill expected to pass in the...
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2019/01/30
Country: Australia
Issue: Oil, Gas and Mining
(Reuters, Sydney, 18 January 2019) The expansion of Papua New Guinea’s giant gas project is turning up the heat in the Asia Pacific project finance arena, with a slew of jumbo financings set to emerge from Oceania in the next 18 months. Stakeholders in the Papua New Guinea Liquefied Natural Gas...
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2018/09/30
Country: China
ECAs: EXIM Bank China, Sinosure
Issue: Oil, Gas and Mining
(Daily Trust, Abuja, 3 September 2018) China National Petroleum Corporation (CNPC) has assured the Nigerian National Petroleum Corporation of its unflinching commitment towards securing funding for the Ajaokuta-Kaduna-Kano (AKK) pipeline project. Financing for the 40-inch by 614km AKK gas...
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2018/09/30
Country: Canada, China, Italy, Japan, South Africa, USA
ECAs: EXIM Bank China, Export Development Canada, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A.
Issue: Oil, Gas and Mining, Transparency
(Daily Maverick, Johannesburg, 3 September 2018) The Export Credit Insurance Corporation of South Africa (ECIC) uses public funds for international projects it chooses to invest in. Right now, the agency is considering lending a part of $14-billion needed by US energy company Anadarko for a...
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2018/08/29
Country: Australia, Canada, France, Korea
ECAs: Export Development Canada, Export Finance and Insurance Corporation, Export Import Bank of Korea
Issue: Oil, Gas and Mining
(Global Trade Review, London, 22 August 2018) Peruvian miner Minsur has secured US$900mn in project financing for its Mina Justa copper mine. The lenders are: BBVA Continental, BBVA, Banco de Crédito del Perú, Crédit Agricole, Export Development Canada (EDC), Export Finance and Insurance...
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2018/07/28
Country: China, France, Germany, Iran, Russia, United Kingdom
Issue: Nuclear, Oil, Gas and Mining
(AFP, Vienna, 6 July 2018) Iran’s remaining partners in the 2015 nuclear deal vowed Friday to keep the energy exporter plugged into the global economy despite the US withdrawal and sanctions threat. Britain, France and Germany along with Russia and China met with Iran in Vienna to offer...
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2018/05/31
Country: Australia
ECAs: Export Finance and Insurance Corporation
Issue: Human Rights, Oil, Gas and Mining
Member: Jubilee Australia
(Australian Associated Press, Sydney, 1 May 2018) Papua New Guinea’s prime minister has dismissed as “fake news” a report that claims a partially Australian-funded liquefied natural gas project is failing to deliver a promised economic boom to...
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2018/04/30
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
Issue: Oil, Gas and Mining
Member: Jubilee Australia
(Jubilee Australia, Sydney, 29 April 2018) A new report on the economy of Papua New Guinea will reopen the case for the Australian government to be held accountable for the negligent decision to lend AU$500 million (US$376.5 million) of taxpayers' money to the PNG-LNG project. Jubilee Australia...
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