Shell‘s Alaska Exit Means Arctic Oil Reserves Remain Locked Away
The inglorious end to Royal Dutch Shell Plcs $7 billion search for oil in Alaska means billions of barrels of crude will probably remain locked away in Arctic waters from the U.S. to Russia -- at least as long as prices remain near $50 a barrel.
Shell abandoned exploration off Alaska for the foreseeable future on Monday after it failed to find meaningful quantities of oil or natural gas. In Russia, sanctions over Ukraine have halted partnerships aimed at exploring offshore in the Arctic, w ...
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