Oil giant Shell has pulled out of a project to develop an oil field off the coast of Scotland.
The company said the economic case for its investment in the Cambo field was not strong enough and also that it was concerned about possible delays.
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Campaigners have been putting pressure on businesses and the UK government, which hosted the COP26 climate summit a month ago, to halt development of the field, saying it was incompatible with goals to become climate neutral by 2050.
However, Shell's withdrawal does not necessarily end the project and private equity-backed Siccar Point, which owns a majority stake in the field, said it will look at other options to continue.
"Cambo remains critical to the UK's energy security and economy," Siccar Point Chief Executive Officer Jonathan Roger said in a statement.
Shell owns 30 percent in the project, while Siccar Point, which operates it, holds the remaining 70 percent, according to Reuters. The field could produce up to 170 million barrels of oil equivalent and 53.5 billion cubic feet of gas over 25 years, according to Siccar Point.