Company News

Equinor delays Bay du Nord project off Canada amid oil price crash

OSLO, March 19 (Reuters) - Oil firms Equinor and Husky Energy have decided to postpone the Bay du Nord project off Canada due to the fall in oil prices, the Norwegian firm said on Thursday.

“Equinor and partner Husky Energy have decided to defer the Bay du Nord development project offshore Canada to make the project more robust for low commodity prices,” a spokesman said.

“Equinor will now take the time to further improve the project business case and assess the duration of this deferral,” he added.

The company had previously expected first oil from the project, situated some 500 km (310 miles) off Newfoundland, in 2025, according to Equinor’s website. (Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)