France’s Top Bank To Stop Funding New Oil And Gas Fields

France’s biggest bank, BNP Paribas, said on Thursday that it would no longer provide any financing for the development of new oil and gas fields regardless of the financing methods, as part of its energy transition goals. The French bank will not provide any financing for the development of new oil fields, including project financing, reserve-based lending, and Floating Production Storage and Offloading (FPSO) projects. BNP Paribas will phase out financing to non-diversified oil exploration and production players (independent oil companies)…