Monday 20 May 2024
 13.3°C   ESE Light Breeze
Ocean Kinetics - The Engineering Experts

Energy / Campaigners critical as reports suggest Shell may return to Cambo project

The Cambo field lies 125 kilometres north west of Shetland. Image: Siccar Point

ENVIRONMENTAL campaigners have criticised Shell as reports suggest the oil company was re-evaluating its decision to pull out of the Cambo field west of Shetland.

Shell said back in December that the economic case for the Cambo oil field, 75 miles west of Shetland, did not stack up.

But since then oil prices have shot up, with the situation in Russia and Ukraine in part driving up the value of fossil fuels.

The BBC reported this morning (Tuesday) that the oil company was reviewing the situation.

The idea of extracting oil from Cambo has proved divisive, with campaigners keen to see the move away from fossil fuels – but the industry says a phased transition is needed.

The Cambo oil field project, led by Siccar Point Energy, had an exploration licence granted in 2001.

Its developer said the project would deliver 170 million barrels of oil equivalent during its 25-year operational life, and provide a further 53.5 billion cubic feet of gas – enough to power 1.5 million homes for a year.

Responding to today’s reports, campaign group Friends of the Earth said Shell is ”seeking to capitalise on rising oil prices, partly due to the war in Ukraine, to expand control over our energy system and further boost profits”.

Campaigner Caroline Rance said opening up fields like Cambo would “further lock us into a broken fossil fuel energy system that is already unaffordable for millions of households in the UK and is worsening the climate emergency”.

Scottish Greens energy and climate spokesperson Mark Ruskell said: “Opening the Cambo oil field makes even less sense today than it did last year.

“Any u-turn from Shell would be based purely on maximising its already eye-watering profits, it certainly wouldn’t help with soaring energy bills or our energy security.”

Siccar Point Energy chief executive Jonathan Roger previously said “we continue to believe Cambo is a robust project that can play an important part of the UK’s energy security providing homegrown energy supply and reducing carbon intensive imports, whilst supporting a just transition”.

Become a supporter of Shetland News

Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.

Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.

Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has  over 600 supporters  who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.

Your contribution will ensure Shetland News can: -

  • Bring you the headlines as they happen;
  • Stay editorially independent;
  • Give a voice to the community;
  • Grow site traffic further;
  • Research and publish more in-depth news, including more Shetland Lives features.

If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.

 

Newsletters

Subscribe to a selection of different newsletters from Shetland News, varying from breaking news delivered on the minute, to a weekly round-up of the opinion posts. All delivered straight to your inbox.

Daily Briefing Newsletter Weekly Highlights Newsletter Opinion Newsletter Life in Shetland Newsletter

JavaScript Required

We're sorry, but Shetland News isn't fully functional without JavaScript enabled.
Head over to the help page for instructions on how to enable JavaScript on your browser.

Your Privacy

We use cookies on our site to improve your experience.
By using our service, you agree to our Privacy Policy and Cookie Policy.

Browser is out-of-date

Shetland News isn't fully functional with this version of .
Head over to the help page for instructions on updating your browser for more security, improved speed and the best overall experience on this site.

Interested in Notifications?

Get notifications from Shetland News for important and breaking news.
You can unsubscribe at any time.

Become a supporter of Shetland News

We're committed to ensuring everyone has equitable access to impartial, open and quality local journalism that benefits all residents.

By supporting Shetland News, you play a vital role in ensuring we remain a pivotal resource in supporting the community.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.