Shell abandons the Alaskan arctic

摘要

Oil and gas major Shell has abandoned its exploration activities in offshore Alaska "for the foreseeable future" The energy company, which has seen significant criticism from environmental bodies for its original plans, attributed the decision to the low quantities of oil and gas found in the Burger J well, the high costs associated with its extraction, and the challenging and unpredictable federal regulatory environment. However, analysts speculate that the decision could be a strategic move to limit the damage to the company's reputation in the wake of the many protests that the project has seen.