Shell may post loss after taking £2.7bn Arctic exploration hit
Shell chief executive Ben van Beurden told The Mail on Sunday just two weeks ago that he was committed to the Arctic
By Jon Rees For The Mail On Sunday: 4 Oct 2015
Shell is set to reveal that quitting the Arctic cost it up to $4.1billion (£2.7billion) in its third-quarter results when it unveils them later this month – in a move that could push the oil giant into reporting a loss.
The firm took investors and its environmental opponents by surprise when it announced last week that it would end its drilling programme in the Chukchi Sea, 150 miles off the north-west coast of Alaska.
It said it had found indications of oil and gas but not enough to justify further exploration.
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