[New post] Shell abandons Arctic drilling after disappointing results

sskarthik posted: "Royal Dutch Shell has abandoned its controversial attempts to drill for oil off Alaska's northwest coast, citing disappointing results from exploratory wells. According to a report from The New York Times, the company said that while it had found &qu" Respond to this post by replying above this line New post on SKarthik.info Shell abandons Arctic drilling after disappointing results by sskarthik Royal Dutch Shell has abandoned its controversial attempts to drill for oil off Alaska's northwest coast, citing disappointing results from exploratory wells. According to a report from The New York Times, the company said that while it had found "indications of oil and gas" in the region's Burger prospect, "these are not sufficient to warrant further exploration." The decision, which will be welcomed by environmental campaigners, means billions of dollars of writedowns for Shell, which spent $7 billion — or around 20 percent of its exploration budget — since 2007 developing prospects in the Arctic. "Shell will now cease further exploration activity in offshore Alaska for the foreseeable future," said Marvin Odum, director of Shell Upstream... Read more... sskarthik | September 28, 2015 at 3:06 pm | Categories: Computers and Internet | URL: http://wp.me/p1eKZE-3mkp Comment    See all comments Unsubscribe to no longer receive posts from SKarthik.info. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://sskarthik.wordpress.com/2015/09/28/shell-abandons-arctic-drilling-after-disappointing-results/ Thanks for flying with WordPress.com