Published 2 years ago

Analysis: UK North Sea's oil and gas future darkens after Shell's Cambo exit

Summary by Ground News

Royal Dutch Shell pulled its support for Cambo oil development on Thursday. Shell's decision sends a negative signal to other companies, investors and bankers. Siccar Point was negotiating the sale of a stake in Cambo to another private equity-backed company, NEO. The deal with NEO, as well as the future of the 1.9 billion pound ($2.51 billion) project, were thrown into disarray.

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Reuters

Analysis: UK North Sea's oil and gas future darkens after Shell's Cambo exit

By Shadia Nasralla and Ron Bousso LONDON - Up until a few days ago, the leadership of British North Sea producer Siccar Point was negotiating the sale of a stake in the promising Cambo oil development to another private equity-backed company, NEO, sources told Reuters. But on Thursday Royal Dutch Shell, Siccar Point's partner in the project, pulled its support for Cambo amid a wider

2 years ago·United Kingdom

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OAN

Analysis: UK North Sea’s oil and gas future darkens after Shell’s Cambo exit

December 3, 2021By Shadia Nasralla and Ron BoussoLONDON (Reuters) – Up until a few days ago, the leadership of British North Sea producer Siccar Point was negotiating the sale of a stake in the promising Cambo oil development to another private equity-backed company, NEO, sources told Reuters.But on Thursday Royal Dutch Shell, Siccar Point’s partner in the project, pulled its support for Cambo amid a wider public debate about the future of f…

2 years ago·San Diego, United States

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