Chevron abandons plan to drill for oil in Great Australian Bight

Environmentalists hail decision that comes almost exactly a year after BP ditched its own scheme for the untapped basin

Chevron has become the second big oil company to abandon plans to drill for oil in the Great Australian Bight, almost exactly a year after BP ditched its more advanced plans for the untapped basin.

Oil companies have compared the potential of the bight to the Gulf of Mexico, where there are thousands of oil rigs.

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