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Can Shell afford Arctic oil?

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Karl Mathiesen: Wednesday 12 August 2015

This is the first time the Anglo-Dutch giant’s star-crossed Arctic programme will drill deep enough to hit oil. The company has reportedly spent $7bn (£4.5bn) on getting to this point, including replacing its prize Kulluk rig after it ran aground off Alaska in 2012. For them to gain any of this back, a number of things need to happen.

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