"With 2 Ships Damaged, Shell Suspends Arctic Drilling"

"WASHINGTON — After a series of costly and embarrassing accidents in its efforts to drill exploratory wells off the north coast of Alaska last year, Royal Dutch Shell announced on Wednesday that it would not return to the Arctic in 2013."

"The company’s two drill ships suffered serious accidents as they were leaving drilling sites in the Beaufort and Chukchi Seas last fall and winter and are being sent to Asia for repairs. Shell acknowledged in a statement that the ships would not be repaired in time to drill during the short summer window this year.

 “Our decision to pause in 2013 will give us time to ensure the readiness of all our equipment and people,” said Marvin E. Odum, president of Shell Oil Company.

He said Arctic offshore drilling was a long-term project that the company would continue to pursue.

The Interior Department, the Coast Guard and the Justice Department are reviewing Shell’s operations, which have included groundings, environmental and safety violations, weather delays, the collapse of its spill-containment equipment and other failures."

John M. Broder reports for the New York Times February 27, 2013.

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"Shell Oil Cancels Offshore Alaska Drilling for 2013" (ENS)

Source: NY Times, 02/28/2013