BG Deal May Leave Shell’s Arctic Ambitions In Limbo

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Royal Dutch Shell’s purchase of BG will turn the combined company into a natural gas behemoth. But one casualty of the merger could be one of Shell’s iconic drilling campaigns: the Arctic. The Arctic is thought to hold 13 percent of the world’s undiscovered oil reserves, and 30 percent of its undiscovered natural gas reserves, according to the U.S. Geological Survey. That makes the Arctic “one of the last energy frontiers,” as Shell put it. Sitting off the coast of Alaska could be around 30 billion barrels of oil.…

via OilPrice.com Daily News Update http://ift.tt/1DprLZf