"Another Oil Company Ends Arctic Drilling Hopes"

"A Spanish oil company has become the latest to abandon its federal drilling leases in the Arctic’s Chukchi Sea.

Repsol announced late Tuesday that it is pulling out of the Arctic and closing its Alaskan office in Anchorage, The Alaska Dispatch News reports.

Repsol held 93 federal leases in the Chukchi Sea, a Bureau of Ocean Energy Management official told the paper. Because several companies have also dropped plans to drill in the Arctic, Repsol said it wouldn’t be able to partner with other companies to develop oil there."

Devin Henry reports for The Hill June 8, 2016.

Source: The Hill, 06/09/2016