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AP National Business

Shell pulls out of controversial Cambo project in Scotland

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Published 1:02 am

By DANICA KIRKA
Associated Press

LONDON (AP) — Royal Dutch Shell has pulled out of a controversial oil project off Scotland’s Shetland Islands, saying the project no longer makes economic sense for the company. Shell had a 30% stake in the Cambo project, which is opposed by environmental groups who say Britain should stop developing new oil and gas fields as part of its efforts to combat global warming.  Shell says that after comprehensive screening of the proposed Cambo development, it has concluded the economic case for investment in this project is not strong enough at this time.

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