Potential Oil Activity News

Faced with an earnings slump and added pressure from a recent federal court ruling, Shell has abandoned plans for offshore drilling near Alaska in 2014. Shell’s new CEO Ben van Beurden announced to investors today that the company will undergo a major refocus aimed at reversing down financial results, and part of that plan involves leaving Alaska off its agenda—at least for 2014. The major cog Van Beurden referenced was a federal ruling that said the U.S. government miscalculated…