Shell concedes defeat in the Arctic after poor results
The company have abandoned the multi-billion dollar drilling campaign after facing difficulty in the region
Poor exploration results this summer have prompted Shell to abandon a multi-billion dollar drilling campaign in the US Arctic. Its prospects had already looked fragile given high costs, low oil prices, regulatory uncertainty and environmental opposition. Shell said it found indications of oil and gas in the Burger J well it drilled in the Chukchi Sea, but that these had not proved sufficient to warrant further exploration. The well, drilled to a total depth of 6,800 feet in 150 feet of water at a location some 150 miles from Barrow, Alaska, will be sealed and abandoned. The company said it would cease exploration activity offshore Alaska for the foreseeable future and that its decision was i
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
