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Stock impact report

Fate of Bay du Nord oilfield in Newfoundland still unclear as Equinor delays deadline [BNN Bloomberg (Canada)]

Equinor ASA (EQNR) 
Last equinor asa earnings: 2/6 12:43 am Check Earnings Report
Company Research Source: BNN Bloomberg
The Norwegian energy company says the status deadline initially set for December has been adjusted to allow time for the province's Progressive Conservative government to settle in after winning the October election. News of the delay was first reported by allNewfoundlandLabrador news, and the company says its new deadline is in the near term, but didn't give details. Company spokesperson Erika Kelland says that if the project meets the new status deadline, the company is still on track to make a final decision in 2027 about whether to go ahead with the $14-billion project. Rob Strong, an oil industry consultant in St. John's, N.L., says he is not concerned about the delay, though he says the project is not a “slam dunk.” The government wants certain fabrication work for the project to be completed in Newfoundland and Labrador, but Strong says it would be cheaper for the work to be done elsewhere. The Canadian government approved the Bay du Nord project in 2022, but Equinor Show less Read more
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