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The North Sea must ‘earn its right to grow’, says Shell boss

Jillian Ambrose: 

The North Sea still has the support of supermajors BP and Royal Dutch Shell but the basin will need to earn its right to grow within a rapidly changing energy landscape, oil bosses have warned. Oil industry heavyweights have converged on Aberdeen this week for a conference focused on the future of the North Sea as oil majors shift their portfolios towards low cost oil, petroleum products, gas and even renewables. Ben Van Beurden, Shell’s chief executive, said the Anglo-Dutch group is still committed to the basin after its $3bn sell-off to private equity backed Chrysaor, but added that the North Sea needs to “earn its right to grow” amid “challenging times” for the oil and gas sector. FULL ARTICLE

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