Canada Greenlights Controversial $12 Billion Deepwater Oil Project ...Middle East

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Canada Greenlights Controversial $12 Billion Deepwater Oil Project
source : OILPRICE ( Middle East ) () 22
The federal government of Canada has granted its approval for a $12-billion oil project offshore Newfoundland and Labrador, to be led by Norwegian state major Equinor. According to the Norwegian company, the Bay du Nord project consists of several discoveries made between 2013 and 2020 that have combined recoverable reserves of some 300 million barrels of oil. Revenues for the Canadian government are estimated at some $2.8 billion (C$3.5 billion), according to the company. For Canada, however, the project is highly controversial given the Trudeau…

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