The Royal Dutch Shell PLC icebreaker Fennica heads up the Willamette River under protesters hanging from the St. Johns Bridge on its way to Alaska in Portland, Ore. on July 30, 2015. Royal Dutch Shell will cease exploration in Arctic waters off Alaska's coast following disappointing results from an exploratory well backed by billions in investment and years of work. The announcement that came on Monday, Sept. 28, was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue. Environmentalists, however, had tried repeatedly to block the project and welcomed the news.
The Royal Dutch Shell PLC icebreaker Fennica heads up the Willamette River under protesters hanging from the St. Johns Bridge on its way to Alaska in Portland, Ore. on July 30, 2015. Royal Dutch Shell will cease exploration in Arctic waters off Alaska's coast following disappointing results from an exploratory well backed by billions in investment and years of work. The announcement that came on Monday, Sept. 28, was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue. Environmentalists, however, had tried repeatedly to block the project and welcomed the news. Don Ryan AP
The Royal Dutch Shell PLC icebreaker Fennica heads up the Willamette River under protesters hanging from the St. Johns Bridge on its way to Alaska in Portland, Ore. on July 30, 2015. Royal Dutch Shell will cease exploration in Arctic waters off Alaska's coast following disappointing results from an exploratory well backed by billions in investment and years of work. The announcement that came on Monday, Sept. 28, was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue. Environmentalists, however, had tried repeatedly to block the project and welcomed the news. Don Ryan AP

Shell abandons Arctic Ocean drilling efforts amid costs and controversy

September 28, 2015 08:54 AM

UPDATED September 28, 2015 05:48 PM

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