Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists seeking to halt the development of new oil and gas resources.
The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photosaid on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists seeking to halt the development of new oil and gas resources.
Climate activists have pointed to a report by the International Energy Agency saying that no new oil and gas projects should be developed in order to restrict global warming to 1.5 degrees Celsius."Cambo remains critical to the UK's energy security and economy," Siccar Point Chief Executive Officer Jonathan Roger said in a statement.
Adam Matthews, chief responsible investment officer at Church of England Pensions Board, a shareholder which leads engagement with Shell over its energy transition strategy, welcomed the move.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US and South Korea to develop new war plan to address North Korean military advancementsThe US and South Korea will develop a new operational war plan to address the threat from North Korea, senior defense officials said Tuesday, as the Pentagon shifts its focus to the Indo-Pacific region following its recently completed global force posture review.
Read more »
Covid: Omicron fears cause wave of hotel cancellationsBest Western is one hotel group that has seen many customers scrapping Christmas bookings.
Read more »
On the Great Pacific Garbage Patch, scientists find a surprise: Coastal lifeCoastal marine species carried out to sea on debris are not only surviving, they’re colonizing the high seas and making new communities on the floating plastic
Read more »
Moderna Says Omicron Booster Could Be Ready By March, But Fauci Says Not To WaitFauci said experts are still unsure if variant-specific Covid-19 boosters are necessary.
Read more »
Google Reportedly Delays Office Return In Europe, Middle East And Africa Due To Spread Of Omicron VariantGoogle has not announced changes for employees in North America, Insider reported.
Read more »
More than half of employers to require Covid vaccines as omicron fears growThe majority of U.S. employers now have, or plan to have, a vaccine mandate in place as return-to-work plans are pushed back again.
Read more »