Royal Dutch Shell Plc pulled out of a controversial U.K. oil project, a win for environmentalists as the development of a new North Sea field was left hanging in the balance. “After comprehensive screening of the proposed Cambo development, we have concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays,” a Shell spokesperson said Thursday in a statement. Environmental groups have campaigned against Cambo, saying the project is at odds with the U.K.’s goal of reaching carbon neutrality by 2050. Despite that opposition, Shell Chief Executive Officer Ben Van Beurden publicly supported the field until recently, arguing that the investment was needed to slake ongoing British demand for oil and natural gas. The project, operated by Siccar Point Energy Ltd . and co-owned by Shell, had to delay work earlier this year while waiting […]