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AN OIL company which had a 30 per cent stake in the Cambo field west of Shetland has pulled out of the divisive project. Shell said it made its decision because the economic case was “not strong enough” at this point in time. The news has been welcomed by environmental...
The company said the Cambo project no longer makes economic sense.
Industry sources say Siccar Point will struggle to find new partner to take on Shell’s 30% stake in oilfield
The company said the Cambo project no longer makes economic sense.
Royal Dutch Shell has pulled out of a controversial oil project near Scotland’s Shetland Islands, saying the project no longer makes economic sense for the company. Shell had a 30% stake in the Cambo project, which is opposed by environmental groups who say Britain should stop developing new oil and gas fields as part of its efforts to combat global warming.