Shell’s Alaska Return Shows Arctic Drilling Defying Slump in Oil
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Royal Dutch Shell Plc’s plan to return to the Arctic this year shows exploration in one of the world’s most remote regions is proving resilient against the slide in crude prices.
The U.S. Interior Department on Monday endorsed Shell’s plan to have two rigs drill as many as six exploratory wells in the Chukchi Sea off the coast of Alaska. Shell wants to resume work halted in 2012 when its main drilling rig ran aground and was lost. It also was fined for air pollution violations.