BREAKING NEWS: Shell selling stake in controversial Cambo oil field

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Could this mean that Cambo is to be abolished?

Shell is selling its stake in the controversial Cambo oil field, it has been announced.

The project – which is west of Shetland – is the second-largest undeveloped oil and gas discovery in the UK’s North Sea.

The oil major is looking for a buyer for its 30% holding.

Cambo has been the focal point of many protests, and Shell has been rumoured for months to be looking for someone to take over its part.

The remaining 70% of the field is owned by Ithaca Energy.

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