Transalpine oil pipeline expansion: REPowerEU funds must not swell the coffers of energy crisis profiteers
April 19, 2023
Using EU funds, the Czech government plans to provide EUR 114 million for the expansion of the Transalpine (TAL) oil pipeline, which links the Italian port of Trieste with refineries in Austria, Germany and the Czech Republic. The project raises concerns about its compliance with EU legislation as well as its environmental and economic sustainability.
Are the oil majors destined for extinction?
February 21, 2023
Investors are rewarding BP and Shell for doubling down on fossil fuels while backsliding on climate commitments – but for how long?
Egypt pulls EBRD oil refinery project amid shareholder concerns
November 23, 2021
Egypt withdrew a $250 million loan request to the European Bank for Reconstruction and Development for an oil refinery modernization Monday …
Eesti Energia uus õlitehas sattus Euroopa roheliste hambusse
May 12, 2020
Enam kui 20 Euroopa keskkonnaühendust saatsid Euroopa Komisjoni presidendile Ursula von der Leyenile kaebekirja, milles leidsid, et Eesti Energia uus õlitehas on vastuolus Euroopa Liidu kliimaplaanidega.
NEW REPORT: Misguided spending by enfants terribles is undermining Europe’s transition to a fossil-free future
January 26, 2016
Brussels/Prague, 25 January 2016 – EU billions destined to transform the carbon-intensive, inefficient energy systems of central and eastern Europe are being misspent, finds a new report today by CEE Bankwatch Network and Friends of the Earth Europe. Bad spending plans and a lack of climate commitments from nine central and eastern European governments is hampering Europe’s transition away from fossil fuels, the groups say.
Energy security for Europe or profit for Lukoil?
December 4, 2014
Despite the Russian invasion in Ukraine leading to EU and US sanctions against Moscow and major Russian energy companies, public banks supported by EU countries are just gearing up to offer a one billion dollar loan to Russian company Lukoil for gas extraction in Azerbaijan.
Who is Jan Kulczyk, the man behind Serinus Energy?
May 19, 2014
In the summer of last year, the European Bank for Reconstruction and Development (EBRD) approved a 60 million euro loan to Serinus Energy for financing the development of four oil and gas fields in Tunisia (Sabria, Chouech Essaida, Ech Chouechand Sanrahr) between 2013 and 2017.
Oil casts long shadow over local people in Albania
March 20, 2014
Local development and investments in resource extraction rarely go together hand in hand. Bankwatch’s Media coordinator David Hoffman reports back on a recent visit to the EBRD sponsored Patos Marinza oil field in Albania. The case provides valuable lessons for the current revision of the EBRD’s safeguard policies.
The good, the bad and the uncertain: the new energy policies of Europe’s public banks
March 20, 2014
The European NGO coalition Counter Balance has recently published a short overview of the new energy policies now in place at the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). Both banks’ new policies were finalised towards the end of 2013 following extensive consultation with stakeholders from the energy sector, civil society and academia.
In Albania, oil’s history casts long shadows over locals
February 21, 2014
The findings of a visit to the EBRD sponsored Patos Marinza oil field in Albania show how local development and investments in resource extraction often do not go hand in hand. The case provides valuable lessons for the revision of the EBRD’s safeguard policies.