Barclays Rejects Arctic Drilling
not expect such project finance proposals to meet our criteria.”The announcement from Barclays is the latest in a series of major financial institutions rejecting drilling in the Arctic. Some of the world’s largest banks have made similar commitments, including HSBC, BNP Paribas, Royal Bank of Scotland, Societe Generale, and others.Recently leaders from the Gwich’in Steering Committee and the Sierra Club have met with representatives from Barclays to discuss the threats fossil fuel operations pose to the Arctic Refuge and why action by the financial industry is necessary, said Sierra
Retaining Company Consistency with Global Collaboration
, outlook and ethos, to ensure standards are maintained and successful results are achieved when moving into international regions. Businesses are constantly looking to grow and diversify into new regions and areas, with a recent study, carried out by Coleman Parkes Research on behalf of the Bank of Scotland, reporting that a quarter of U.K. oil and gas companies have managed to actually grow during the downturn by diversifying into new areas and by adopting new technology, and two-thirds have made international expansion plans. An ethos and ambition that Hydro Group has followed for the past three
Ithaca Energy Completes RBL Redetermination
borrowing base financing terms, neither of which have historic financial covenant tests. In addition to the bank debt facilities, the Company has $300 million senior unsecured notes due July 2019. The banks in the debt syndicate are: BNP Paribas, Scotiabank, Deutsche Bank AG, Lloyds Bank, Royal Bank of Scotland, Barclays Bank PLC, Commonwealth Bank of Australia, Skandinaviska Enskilda Banken AB (publ), Société Générale, NIBC and Wells Fargo.
Quay Contract Awarded at Lerwick Port
ongoing subsea projects, particularly west of Shetland, and the developing decommissioning and offshore renewable markets.” As previously announced, the Scottish Government and agency, Highlands and Islands Enterprise, are providing £2.39 million in grant for the project, with Bank of Scotland supporting the Port Authority’s investment. Work will begin in April, with completion due in April 2016. At peak, BAM expects up to 40 people to be employed directly in the construction of the new facility, with wider benefits spreading to local suppliers and subcontractors. Commenting
February 2024
