Extracts from an article by Reuben Brewer published on 21 March 2014 by The Motley Fool under the headline: BP Wins One and Loses One in the Gulf
Royal Dutch Shell has found nothing but ill-fortune off the shores of Alaska. Shell’s most public problem was the 2013 grounding of the Kulluk drill ship. However, that was merely the capstone event on a difficult journey that reportedly cost the company $5 billion over seven years. After Kulluk, the company halted its drilling plans and recently announced that it wouldn’t be drilling in 2014, either. Now there’s even questions circulating about whether or not the U.S. government overstepped its bounds by opening up the region to drilling. This was a big bet for Shell that hasn’t turned out very well. While Shell has the financial wherewithal to take the hit, it’s one of many the company is dealing with.
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