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2015-10-01 19:45:00

SHELL STOPPED DRILLING

SHELL STOPPED  DRILLING

The oil giant is to halt drilling at the Burger J well in the US Arctic, saying it can't justify the expense due to low oil prices. Shell only won the controversial permission to explore the icy waters last month.

Drilling efforts are to end for the "foreseeable future," Royal Dutch Shell said in a statement on Monday, blaming the "high costs associated with the project."

The surprise move came just a month after it won a new permit to explore the Arctic waters off Alaska in the Burger J well in the Chukchi Sea, despite opposition from environmental groups and disagreement among some Democrat party leaders.

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Tags: SHELL, OIL, ALASKA
Chronicle:
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