Marine Link
Saturday, August 18, 2018

U.S. Cancels Arctic Offshore lease Sale

Maritime Activity Reports, Inc.

October 17, 2015

Secretary Sally Jewell Photo Tami Heilemann Courtesy US Dept of the Interior

Secretary Sally Jewell Photo Tami Heilemann Courtesy US Dept of the Interior

 

The U.S. Interior Department on Friday said it would cancel two potential Arctic offshore lease sales after Royal Dutch Shell PLC said that it was not interested in those leases.

"In light of Shell's announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half," Interior Secretary Sally Jewell said in a statement.

Shell said last month it was giving up its Arctic search for oil after failing to find enough crude oil.

(Reporting By Patrick Rucker; Editing by Sandra Maler)
 

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News