Royal Dutch Shell said it would cease exploration activity in offshore Alaska for the "foreseeable future" and take a writedown of about $4.1 billion after failing to find enough oil in the region.
The company said it di
Anglo-Dutch oil company Royal Dutch Shell plans to sell assets, cut spending and freeze a controversial Arctic drilling programme to improve returns after a major profit warning.
Just a month into his new job as chief executive of
US President Barack Obama has committed to annual oil and gas lease sales in Alaska's National Petroleum Reserve and to speeding up production in other areas.
In his weekly radio and Internet address, the US leader admitted that one of the
Brent crude prices stayed near $98 on Wednesday, the highest level since October 2008, as production shutdowns in Norway and Alaska raised expectations of an accelerated tightening of supplies in Atlantic basin, Middle East
Three British polar explorers will set off from Alaska early next year on a trek to the North Pole to try to establish when Arctic summer sea ice will finally vanish because of global warming.
The sea ice is already receding at a rate of 3
BP says it expects to restart 10,000 barrels per day of Alaskan oil output cut for a week due to a spill.
The UK energy group halted the output from its Prudhoe Bay oil field due to a small leak in one of its pipes.