Business

Oil drilling on US Arctic coast put on ice

By Toby Sterling
Published January 30, 2014 2:53pm ET
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Oil drilling on US Arctic coast put on ice
AMSTERDAM (AP) — Oil companies’ rush to find reserves off Alaska’s Arctic shores suffered a setback on Thursday after Shell said it would suspend its operations in the region — and possibly withdraw for good. Royal Dutch Shell PLC is the main company to have purchased leases for oilfields off Alaska’s Arctic shores, but its […]

AMSTERDAM (AP) — Oil companies’ rush to find reserves off Alaska’s Arctic shores suffered a setback on Thursday after Shell said it would suspend its operations in the region — and possibly withdraw for good.

Royal Dutch Shell PLC is the main company to have purchased leases for oilfields off Alaska’s Arctic shores, but its attempts to drill have been halting due to technical and legal hurdles.

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Alaska Oil Shell