They're claiming Shell's reputation is good at this point?Shell has abandoned its controversial drilling operations in the Alaskan Arctic in the face of mounting opposition.
Its decision, which has been welcomed by environmental campaigners, follows disappointing results from an exploratory well drilled 80 miles off Alaska’s north-west coast. Shell said it had found oil and gas but not in sufficient quantities.
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Shell has also privately made clear it is taken aback by the public protests against the drilling which are threatening to seriously damage its reputation.
Guardian
...but hey, do what you want...you will anyway.The withdrawal came six weeks after the final U.S. clearance and three months after Shell was still defending the project, a rapid change of heart for such a large company that shows it is preparing for a prolonged period of low oil prices while trying to close its $70 billion takeover of rival BG.
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"The entire episode has been a very costly error for the company both financially and reputationally," said analysts at Deutsche Bank, who estimate the Shell's Arctic exploration project could cost the company about $9 billion.
REuters
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