Norwegian oil giant Equinor has abandoned plans to drill for oil in the Great Australian Bight, declaring the controversial project did not make commercial sense...

The decision is a significant win for environment groups and other opponents of the project, including Indigenous elders and local councils. The proposal sparked protests supported by tens of thousands of people opposed to fossil fuel extraction in a marine wilderness area.

Equinor’s announcement comes shortly after the proposed Stromlo-1 well site, in water more than 2.2km deep and nearly 400km off the South Australian coast, was granted environmental approval by the federal offshore petroleum regulator. The Wilderness Society launched legal actionchallenging the decision last month, arguing opponents had not been properly consulted.

Peter Owen, the Wilderness Society’s South Australian director, welcomed Equinor’s decision to “responsibly withdraw” from the project...