Shell abandons drilling for oil
Royal Dutch Shell calls off drilling in the Arctic,
claiming it has not discovered anything
GLOBAL ENERGY giant Royal Dutch Shell has abandoned its drilling operations on the Alaskan shore off the Arctic. The Anglo-Dutch company claimed that it had discovered only a marginal amount of oil and gas in the Chukchi Sea, a minor stretch in the Arctic Ocean off the coast of Alaska, after it got the green signal from the Obama administration in August this year. Shell will now cease further exploration activity in offshore Alaska. This decision reflects the high costs associated with the project and the challenging and unpredictable federal regulatory environment in offshore Alaska, said Marvin Odum, the director of Shell Upstream Americas.