U.S. Interior Issues Drilling Permits for Shell in the Arctic

Royal Dutch Shell Plc received limited permits to drill two wells off Alaska’s Arctic coast, clearing the way for the first oil exploration since the company’s mishap-plagued effort in 2012 stalled its plans.

The U.S. Interior Department approved Shell’s applications for permits to work in the Chukchi Sea, while saying the company may not drill into the oil reserves until all of the safety equipment is in place. The company has two drill rigs on the way to the location now, and may begin work in the coming days, depending on ice floes in the area.

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