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Leading investment banks for oil sands companies from 2016 to 2023 (in billion U.S. dollars)

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Sources

Release date

July 2024

Region

Worldwide

Survey time period

2016 to 2023

Supplementary notes

Bank financing for 37 top tar sands production companies and six key tar sands pipeline companies. 
Figures before 2022 were taken from previous reports.

Citation formats

Financing for oil sands companies worldwide 2016-2023, by bank

Published by K. Scholle, Jul 30, 2024

From 2016 to 2023, oil sands companies received billions of dollars in finance from some of the worlds leading investment banks. Oil sands are a naturally occurring mixture of sand, water, fine solids, clay and bitumen. Bitumen is a heavy hydrocarbon that is tar-like in its consistency, and is extracted using varying techniques dependent on the depth of the deposits. During this time, the two main financers of leading oil sands companies were the Canadian multinationals TD and RBC. Since the Paris Agreement in 2016, combined total investment from these banks at the end of this period amounted to more than ** billion U.S. dollars.

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