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Shell reportedly reconsidering decision to pull out of controversial Cambo oilfield development
The energy company halted work on the development in Scotland in December after backlash from campaigners.
Shell is reportedly reconsidering its decision to pull out of the controversial Cambo oilfield development in Scotland.
Work on the oilfield – off the coast of Shetland – was halted in December after the energy company decided to withdraw, stating the economic case for investment “was not strong enough”.
However, the price of oil has since risen to more than $100 (£76) a barrel, with fears over the future of Russian oil sending prices soaring.
Sources close to Shell told the BBC that although the company’s official position remains the same, it did note the “economic, political and regulatory environment had changed enormously” in the three months since Shell announced it was pulling out of the project.
Environmental groups have long opposed the proposed field, warning it would jeopardise hundreds of species in the ocean.
