Bloomberg Originals
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Shell’s $7 Billion Alaska Oil Search Finds Dry Well
Posted
September 28, 2015
Views
4,567
Likes
24
Comments
4
Engagement
0.61%
September 28, 2015
4,567
24
4
0.61%
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Sep 28, 20151:37Now PlayingSeptember 28 -- Royal Dutch Shell Plc will halt exploration in the U.S. Arctic after $7 billion of spending ended with a well off Alaska that failed to find any meaningful quantities of oil or natural gas. Europe’s largest oil company was targeting resources it said could be 10 times greater than the oil and gas produced so far in the North Sea. Shell and its peers are also curbing spending after the price of oil slumped about 50 percent in the past year amid a global oversupply.
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