Fetching News Details
Norwegian oil giant, Equinor has entered into an agreement with Canadian provinces for $5.2b to carry out a deepwater oil project offshore Canada’s east coast. The provinces of Newfoundland and Labrador are acquiring a 10% equity stake in the Bay du Nord project, expected to possess over 300 million barrels of high-quality crude oil. The project is estimated to generate $10.7b in economic activity and $2.7b in government revenues.
