The Economist (October 3)
2015/ 10/ 04 by jd in Global News
“Shell’s retreat from the frozen north shows the new realities of ‘big oil.’” Shell announced its withdrawal from exploration in the Chukchi Sea where it had already invested $7 billion on a single exploratory well. “The decision boiled down to costs, financial and reputational. Most big oil firms face similar pressures” and appear likely postpone costly Arctic drilling.
Tags: Arctic drilling, Big oil, Chukchi Sea, Exploration, Reputation, Retreat, Shell
