UK’s Cambo Oilfield Project Put On Hold After Shell’s Withdrawal

The Cambo oilfield project in the UK North Sea, which has caused controversy in recent months and saw Shell exiting the plan for development last week, is now paused, the chief executive of the majority shareholder in the field said on Friday. Shell announced last week that it would no longer proceed with its investment in the Cambo oil field. The supermajor has a 30% stake in the Cambo oilfield, while Siccar Point Energy holds the remaining 70% stake. At the time, Siccar Point expressed its disappointment in Shell’s exit, and said it would…