Equinor acquired BP’s entire interest in the offshore Canadian Bay du Nord project on July 6, 2026. This transaction increases Equinor’s ownership to 100%. The company aims to streamline development and investment decisions for the oil discovery.
Six institutional investors pressured the European Union on the same day. This coalition manages over €1 trillion in assets. The group urged the EU to maintain its opposition to new Arctic oil and gas exploration.
This action specifically targets Equinor’s Wisting oil field, the northernmost project under consideration. The move highlights a growing conflict between Equinor’s strategic expansion and investor demands for a green transition.