REUTERS
Shell scraps plans to develop Cambo North Sea oilfield
December 2, 20216:54 PM GMT
LONDON, Dec 2 (Reuters) – Royal Dutch Shell (RDSa.L) said on Thursday it had scrapped plans to develop the Cambo North Sea oilfield, which became a lightning rod for climate activists seeking to halt Britain’s development of new oil and gas resources.
Following “comprehensive screening” of the Cambo field, Shell “concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays,” the company said in a statement.