Equinor to decide on Bay du Nord oil project in 2027

In Canada, Equinor is set to make a final investment decision on the Bay du Nord offshore oil project in early 2027. The project, which aims to extract approximately 400 million barrels of oil from the Flemish Pass Basin, has faced delays due to economic challenges. Equinor recently became the sole proponent by acquiring BP's stake and is working to redesign the proposal to attract investment. The project is expected to provide a significant economic boost to Newfoundland and Labrador, enhancing the region's energy sector.