Chevron: North Sea oil discovery not profitable

11/24/2013 | Bloomberg

The Rosebank field in Scotland may not be brought into production, as the area does not promise lucrative returns, Chevron said. Rosebank "does not currently offer an economic value proposition that justifies proceeding with an investment of this magnitude," Chevron said. The company said it will decide next year whether to move forward with the project.

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