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BNP Paribas to stop financing shale projects

“A BNP Paribas spokeswoman declined to comment on the bank’s exposure to shale and oil sands projects, but analysts estimate that it is limited” writes Noemie Bisserbe for marketwatch.com. Earlier this year, BNP Paribas said it won’t finance coal energy sector companies that aren’t seeking to diversify their energy sources.BNP Paribas won’t finance oil or gas projects in the Arctic region either, the bank said.The shale oil sector has boomed over the last three years, despite a steep drop in oil prices.BNP Paribas is one of the first banks to eschew parts of the oil sector.
 
Source: marketwatch.com



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