Norwegian energy company Equinor (EQNR), formerly Statoil ASA, said that it has decided to discontinue its exploration drilling plan in the Ceduna sub-basin, offshore South Australia, as the project's potential is not commercially competitive.
Equinor said it has informed the federal, South Australian and local authorities about its decision. The company entered the licences in the Ceduna sub-basin as a partner in 2013 and took over as operator with a 100% equity share in 2017.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.