Newfoundland and Labrador's first deep water oil project has been shelved for three years 'in the face of challenging market conditions,' according to Norwegian oil giant Equinor.
The province's first deep water oil project has been shelved for three years "in the face of challenging market conditions," according to Norwegian oil giant Equinor.Equinor is shelving the Bay du Nord project off the coast of Newfoundland.
The company sent a news release shortly after noon on Wednesday, in the midst of the Energy N.L. Conference and Exhibition in St. John's.
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