Dominic Ellis

Barclays pulls upstream gas expansion project financing Barclays is to stop project or other direct finance to energy clients for upstream oil and gas expansion projects or related infrastructure under its revised Climate Change Statement. JERA signs LNG MOU with Persero subsidiary JERA Co. has signed a Memorandum of Understanding (MOU) with Persero subsidiary PT PLN Energi Primer Indonesia (EPI) to explore developing the LNG value chain in Indonesia. Economic engine and strategic asset: LNG makes defence case at Senate hearing Perceptions around the US LNG export approval pause are more damaging than the impact on the gas market today, as it makes the US look “unstable” as an ally or even non-committal to supporting Europe, ...

75%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermines the credibility of the source. It is calculated as:
Analysis.OverallConflictOfInterestScore * 0.3F + Analysis.OverallBiasScore * 0.3F + Analysis.DeceptivenessScore * 0.3F + Analysis.ReadabilityScore * 0.1F

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

The Daily's Verdict

This author has a mixed reputation for journalistic standards. It is advisable to fact-check, scrutinize for bias, and check for conflicts of interest before relying on the author's reporting.

Bias

85%

Examples:

  • Barclays will stop project or other direct finance to energy clients for upstream oil and gas expansion projects or related infrastructure under its revised Climate Change Statement.

Conflicts of Interest

50%

Examples:

  • Barclays will not finance energy group whose shared aggregate share of production in Oil Sands, Extra Heavy Oil, Hydraulic Fracking in the UK/EU, and Arctic Circle, exceeds 20% of their total oil and gas production. This is an example of deceptive practice as it limits investment opportunities for companies that rely on these sources.
  • Barclays will not fund clients engaged in exploration, appraisal, development and production of oil and gas in the Amazon Biome. This is an example of deceptive practice as it limits investment opportunities for companies that rely on these sources.
  • Barclays will phase out financing to all clients engaged in thermal coal mining by January 1st, 2030. This is also an example of deceptive practice as it creates the illusion that Barclays is committed to reducing carbon emissions while limiting investment opportunities for companies that rely on these sources.

Contradictions

100%

Examples:

No current examples available.

Deceptions

85%

Examples:

  • Barclays is to stop project or other direct finance to energy clients for upstream oil and gas expansion projects or related infrastructure under its revised Climate Change Statement.
  • Barclays will stop project or other direct finance to energy clients for upstream oil and gas expansion projects or related infrastructure under its revised Climate Change Statement.

Recent Articles

Barclays Announces End to Finance for Upstream Oil and Gas Expansion Projects

Barclays Announces End to Finance for Upstream Oil and Gas Expansion Projects

Broke On: Wednesday, 31 January 2024 Barclays has announced that it will stop providing finance to energy clients for upstream oil and gas expansion projects or related infrastructure, as well as unconventional oil and gas. The bank is also imposing restrictions on methane reduction targets, venting and flaring, and near-term net zero aligned Scope 1 and 2 targets. Additionally, Barclays will phase out financing to all clients engaged in thermal coal mining.