The New York Times – Chevron Has Second Thoughts on British Project

The American oil giant Chevron said Friday that it was putting its flagship British deepwater development project under review, saying high costs might not make it viable to continue.

The company said that rising costs of offshore drilling, pipelines and other related equipment and activities meant that the project, called Rosebank, “does not currently offer an economic value proposition that justifies proceeding with an investment of this magnitude.” (Read more…


(Enlgish, Article, 2013)

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