Shell's Polar Pioneer drilling rig in the Chukchi Sea off Alaska. The company announced it would cease exploration off Alaska's Arctic coast following disappointing results from a test well in the Chukchi. Shell Oil Co.

Shell Says It Will Abandon Oil Exploration In Alaska Arctic

In midday trading in London, Shell’s share price was down 1.7 percent in a weak overall market after opening on news that the company will cease exploration in the Alaska Arctic. But an industry analyst told The Wall Street Journal he believes Shell’s investors will generally be happy with the development. “Investors don’t want Shell to deliver […]