Dec 2, 2021
Shell pulls out of Cambo oil project in UK’s North Sea
Royal Dutch Shell has withdrawn from a contentious oil project in Britain's North Sea that had become a battleground for environmental groups keen to stop the UK developing new oil and gas reserves. "After comprehensive screening of the proposed Cambo development, we have concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays," Shell said in statement on Thursday. At a TED conference held in Edinburgh in October ahead of COP26, Lauren MacDonald, a young Scottish member of the Stop Cambo campaign, challenged Shell chief executive and fellow panellist Ben van Beurden over Shell's development of the project. Defenders of Cambo and other North Sea oil and gas developments say they can reduce the UK's dependence on imports that may have higher carbon intensity. "We believe the North Sea - and Shell in it - have a critical role to play in the UK's energy mix, supporting the jobs and skills to enable a smooth transition to Britain's low-carbon future," it said.
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