Shell makes shock exit from Arctic oil drilling

Shell makes shock exit from Arctic oil drilling
 

Shell has pulled out of offshore drilling in the Arctic, in a decision labelled an "unmitigated defeat" for oil companies by environmentalists opposed to the exploration.
The company is abandoning exploration off the coast of Alaska after failing to find sufficient signs of oil and gas to make further exploration worthwhile.
Shell said it would cease exploration activity in the region “for the foreseeable future”, blaming high costs associated with the project and a “challenging and unpredictable regulatory environment”. It said the decision to pull out of the multi-billion-dollar... read more

 
29 September 2015 in World News, Views: 37
Source: Scotsman
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