Fossil energy – Cambo
Oil giant Shell has pulled out of the controversial Cambo oil field development west of Shetland.
The company had a 30% stake in the field, which has faced sustained criticism from environmental groups.
Shell said the economic case for investment in the North Atlantic project was “not strong enough”.
I had carried out “comprehensive screening” before reaching a decision to “ensure the best returns for the business”.
Majority stakeholder Siccar Point Energy said it would continue talks with the UK government over the future of the field.