by Jillian Ambrose on (#5SN76)
Industry sources say Siccar Point will struggle to find new partner to take on Shell’s 30% stake in oilfieldShell’s decision to back out of plans to develop the Cambo oilfield could sound the “death knell” for new large-scale North Sea projects, industry figures say, as the UK’s tougher climate agenda prompts oil companies to retreat from the ageing oil basin.Sources said Shell’s project partner, the private equity-backed Siccar Point, would struggle to find another partner to take on Shell’s 30% stake in the new oilfield, which has provoked outrage among green campaigners. Continue reading...