Friday, January 31, 2014

Shell postpones plans for Arctic drilling

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Shell oil company announced today that it will postpone the drilling in the Arctic of Alaska, scheduled for later this year, reducing at the same time, the overall investment in exploration in € 9 billion ($ 29.8 billion), from €46 billion to € 37 billion (r $ 152 billion to $ 122 billion).

According to the new CEO, Ben van Beurden, disinvestment has against the backdrop of a series of initiatives that depict the "loss of momentum" of the company. Like Green Savers stepped forward last week, Shell presented profits below the expected in 2013 â€" a reduction of 71%.

Shell's decision to postpone drilling in Alaska was received with enthusiasm by environmentalists. "It's not nice to say it," explained van Beurden, "but the lack of a clear path [in this case] means that I'm not prepared to commit more resources to the Alaska drilling in 2014".

According to the activist Charlie Kronick, of Greenpeace Arctic, Shell has spent "enormous amounts of time and money on a project that added nothing except a bad reputation and incompetence".  "The only reasonable decision was van Beurden, which decided to decrease the company's losses and fend off future plans to drill the Arctic remote".

Foto:  zieak / Creative Commons

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