Shell: UK North Sea Needs Investments In New Oil And Gas Projects

The UK North Sea oil and gas sector needs more investments in new developments as Britain will need domestic fossil fuel resources, Shell’s UK head of upstream Simon Roddy told Bloomberg in an interview published on Monday.  “There was only one major development consent for the whole of the North Sea last year.

I don’t fundamentally think that’s a sustainable position,” Roddy told Bloomberg. According to Shell’s executive, the UK will continue to need oil and gas, and the more it gets domestically, the lower…