Shell ends offshore drilling in Alaska

Shell announced it would end offshore drilling in Alaska for the foreseeable future after a key exploration well did not yield sufficient amounts of oil and gas.

The decision is a win for environmentalists, who were concerned the drilling could cause ecological damage.

"Shell continues to see important exploration potential in the [petroleum] basin, and the area is likely to ultimately be of strategic importance to Alaska and the U.S.," Marvin Odum, director of Shell Upstream Americas, said in a statement. "However, this is a clearly disappointing exploration outcome for this part of the basin."

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