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Shell begins ‘high-risk’ drilling for Arctic oil

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Robin Pagnamenta Energy Editor: August 22, 2015

Shell has begun the final stage of its $7 billion attempt to drill for oil in Alaska’s remote Chukchi Sea.

Despite tumbling oil prices and opposition from Hillary Clinton and conservationists, this weekend a steel drill bit was grinding its way through rocks deep beneath the icy waves.

Shell, which was granted final permission to begin drilling by US officials on Monday, believes the oil bearing rocks could hold up to 29 billion barrels — enough to supply half of Amerca’s needs for a decade. 

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Tim Webb

September 20, 2014

Russia’s dream of exploring the Arctic for oil is in tatters after sanctions forced ExxonMobil and its partner Rosneft to abort their first well.

Moscow appeared to confirm reports that the two companies had suspended the operation in the Kara Sea one week before America’s sanctions, imposed over the conflict in Ukraine, take effect.

Sergei Donskoi, the natural resources minister, said: “I have received information that possibly drilling has been halted.”

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