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Shell Suffers Alaska Oil Drilling Setback After Dome Damage

Royal Dutch Shell Plc, Europe’s largest oil company, was forced to scrap plans to drill for oil off Alaska this year after a containment dome designed to cap a spill was damaged.

The need for repairs won’t leave enough time to drill deep enough to find oil this year, The Hague-based Shell said today in a statement. It will instead drill a number of so-called top holes, preparing the way for a renewed exploration campaign next year. Shell had planned to invest $1 billion in exploration off Alaska this year.