"Royal Dutch Shell is scrapping plans to drill an exploratory well in the Beaufort Sea near Alaska this summer, after failing to secure key permits for the project.

Shell CEO Peter Voser confirmed Thursday the work will now be postponed until at least 2012 as the company tries to obtain environmental permits and convince federal regulators it is prepared to contain an out-of-control well in remote, icy waters. This is the latest delay in the company's five-year quest to drill in the Beaufort and Chukchi seas."

Jennifer A. Dlouhy reports for the Houston Chronicle February 3, 2011. [2]