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Financing for fracking companies worldwide 2016-2019, by bank

Fracked oil and gas companies around the world receive billions of dollars in finance each year from major investment banks. Leading the list of major bankers is the American multinational JPMorgan Chase, having financed fracking companies with more than 40 billion U.S. dollars between 2016 and 2019.

The Paris Agreement came into effect in 2016, which had objectives such as making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. Since then JPMorgan Chase have invested more than 10 billion U.S. dollars each year to fracking companies, with American banks the biggest investors during this time. In 2020, one of the pioneers of the U.S. fracking boom, Chesapeake Energy, filed for bankruptcy protection due to long-term debts becoming unmanageable.

Outside of U.S. based firms, the British multinational investment bank Barclays was ranked fifth. Although it had invested some 17.46 billion U.S. dollars during the period of consideration, annual investment from the firm fell each year since 2016, dropping to 3.9 billion U.S. dollars in 2019. Barclays decline in investment coincides with the British publics opinion on fracking, with the share of those who support it falling annually since 2016.

Leading investment banks for fracked oil and gas companies from 2016 to 2019 (in billion U.S. dollars)*

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Sources

Release date

March 2020

Region

Worldwide

Survey time period

2016 to 2019

Supplementary notes

*Bank financing for 30 top fracking companies and ten key fracked oil and gas pipeline companies were analyzed by the source.
figures have been rounded

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