Oil giants Equinor and BP are ending their partnership in US offshore wind in a swap deal that sees each taking full control of one asset in waters off New York that they have advanced jointly since 2020.

Equinor will take over BP’s 50% stake in the Empire Wind 1 and 2 projects while BP gets the Norwegian company’s half share of Beacon Wind 1 and 2, the two European groups said today (Thursday).