Our Take: Cambo Pullout Casts Pall

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Royal Dutch Shell announced it would shelve the proposed Cambo oil and gas development in the UK North Sea. The project already languished in limbo as the UK government had yet to issue necessary approvals and the volume of activist opposition grew. While relatively small, with an estimated recovery of 175 million barrels of oil equivalent over its 25-year life span — or 50,000 barrels per day and 30 million cubic feet of gas — the Cambo saga illustrates how difficult future oil and gas development will be in the UK North Sea while the region and its players try to build a green future.

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