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Shell to Take a Gap Year in the Arctic

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By Ben Winkley: February 28, 2013

Shell will postpone a second summer of drilling in the U.S. Arctic Ocean as it sends its two drilling rigs to Asian ports for repairs, The Wall Street Journal’s Tom Fowler and Ben Lefebvre report.

The move comes as no surprise. Shell has poured billions of dollars into the region and has no production to show for it. Last year it was beset with problems including bad weather, mechanical failures and regulatory challenges.

The Anglo-Dutch major has also faced challenges from environmental groups concerned about the possible effects of an accident in the pristine wilderness (the danger of a spill was shown this week when a shut-in Gulf of Mexico wellhead was struck by a boat, Upstream Online reports).

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