Shell abandons Alaska Arctic drillingQuicklink submitted By Rob Kall Permalink
Become a Fan
Its decision, welcomed by environmental campaigners, follows disappointing results from an exploratory well drilled 80 miles off Alaska’s north-west coast. Shell said it had found oil and gas but not in sufficient quantities.
It now says operations are being ended for the “foreseeable future.”
Shell is expected to take a hit of around $4.1bn as a result of the decision.
Shell has also privately made clear it is taken aback by the public protests against the drilling which are threatening to seriously damage its reputation.