[Reuters] – U.S. oil firm Chevron said on Friday the development of its North Sea Rosebank project was not currently economically attractive, raising doubts about a resurgence of the North Sea as fears rise over costs. Chevron said Rosebank, which is located west of Shetland in the UK North Sea, “does not currently offer an economic value proposition that justifies proceeding with an investment of this magnitude.” Statoil sold its stake in the oil and gas development earlier … [visit site to read more]
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