Dec 3, 2021
Cambo: Jobs warning as Shell pulls out of oil field development
Business leaders have warned that thousands of oil and gas jobs could be at risk in the UK after Shell pulled out of the Cambo oil field development. Siccar Point Energy said it would continue talks with the UK government about developing the oil field, located west of Shetland. Industry body Oil and Gas UK insisted developments such as Cambo were needed during the transition to sustainable energy. The Cambo oilfield is reckoned to hold hundreds of millions of barrels of oil, each worth some $70 at current prices, and there are lots of less high-profile companies who would be willing to suffer some bad publicity for a cut of that prize. "It's absurd to suggest that our transition to a zero carbon economy depends on drilling for ever more oil and gas," he said.
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