Energy firms are reassessing Arctic drilling plans

06/2/2013 | Reuters

Setbacks in Royal Dutch Shell's Arctic exploration activities have prompted other energy firms to review their plans for the region, observers say. "The interest to develop oil and gas is very high, but nevertheless there is more and more concern about the environment and the risk part of it," said Harald Norvik, a board member at ConocoPhillips. "We have been focusing on areas in the Arctic. Now we put our priorities into other areas, like Tanzania, Argentina and Texas. That is the logical development."

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