Texas adds UK lender NatWest to energy ‘boycott’ list over financing restrictions

Texas has added Britain’s NatWest (NWG.L), opens new tab to a list of firms that “boycott” energy companies, potentially restricting the bank’s business with public agencies, the comptroller said on Wednesday.

NatWest was added to the list because of limits it has added on energy financing, a spokesperson for Texas Comptroller Glenn Hegar said via email.

The spokesperson cited a NatWest policy, opens new tab stating that after the end of 2025 it will “not renew, refinance or extend existing reserve based lending specifically for the purpose of financing oil and gas exploration, extraction and production.”

Source: REUTER