‘Early days’ but reaction to Shell’s Cambo decision a ‘worry’, says industry chief

An industry veteran says it’s a “worry” to see people toasting Shell’s decision not to progress a controversial North Sea project.

The oil giant dropped the bombshell last night that it would not move the Cambo field to an investment decision, casting serious doubt over whether it will get off the ground.

Shell, which holds a 30% stake in the project alongside Siccar Point Energy, which holds the remaining 70% share, said the economic case for investment was “not strong enough”.

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