Oil Refiners Struggle To Access Financing As Banks Shun Fossil Fuel Projects ...Middle East

Access to financing has become more complicated for oil refiners as banks are increasingly looking to reduce their exposure to fossil fuel projects, according to refining executives. “If you have the word ‘refinery’ anywhere in your title, you’re not going to get finance,” Alwyn Bowden, chief executive officer of Malaysia’s Pengerang Energy Complex, said at an industry conference, as quoted by Bloomberg. Banks are also increasingly demanding emission-cutting targets from the oil refiners seeking financing, Bowden…

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