Equinor Quits Oil Exploration In Great Australian Bight

Norway’s Equinor has shelved an oil exploration project in the Great Australian Bight, becoming the third supermajor to give up on the Bight amid a challenging environment and strong environmentalist opposition. Australia’s ABC reports that the Norwegian company concluded that the plan it had for the Bight was less commercially competitive than other locations. “We have received bids for the drilling rig, the helicopters, the supply base — the cost for these activities is just too high and too expensive to go ahead and drill…