Banks remain reluctant to invest in oil and gas companies
Banks retain oil and gas lending caution
The Ukraine crisis has not yet seen Europe’s financial institutions shift gears on lending to producers of domestic oil and gas
Francesco Dixit Dominus, CFO of North Sea new entrant Viaro Energy, is still waiting for any newfound enthusiasm for supply security to impact on the appetite of Europe’s financiers towards lending to oil and gas producers. “I do not know if, over the course of the next month, banks’ attitudes will change,” he tells Petroleum Economist. “But I do find it funny that the banks love my money when it comes from production revenues. Yet they remain so reluctant to invest in oil and gas companies.” On the finance side, what are the challenges in moving from being a trading company to an upstream company with its own production? Dixit Dominus: Before we entered the upstream, we were a pure trading
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
