Canada approves oil project amid efforts to offset Russian energy bans

Canada approves oil project amid efforts to offset Russian energy bans

Canada has approved an environmentally controversial oil drilling project as it seeks to increase export capacity to offset the impact of Russian bans in Europe's energy market, Qazet.az reports.

The Bay du Nord offshore oil project will be built in partnership with Norwegian oil company Equinor and will be located off the coast of Newfoundland, with production expected to begin around 2028.

It comes as Canada continues to assess its ability to increase production and shipments of oil to Europe, which currently is heavily reliant on Russian oil.