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Three Oil Giants Suspend Chukchi and Beaufort Sea Drilling Plans

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Three Oil Giants Suspend Chukchi and Beaufort Sea Drilling Plans

Royal Dutch Shell started the trend by nixing its 2013 Arctic offshore drilling plans altogether because of equipment problems, the company announced on February 27. About a week later, Norwegian conglomerate Statoil said it would hold off on drilling until at least 2014. Most recently, ConocoPhillips announced on April 10 that it was suspending its plans to drill exploratory wells off Alaska’s Arctic coast in 2014. 

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