oil lease sales

News

In a major setback for Arctic drilling, the Obama administration cancels two oil lease sales

Published: 
Mon, 10/26/2015 (All day)

Citing Shell’s decision to indefinitely cancel plans to explore for oil in the Chukchi Sea after drilling an initial, unsuccessful test well, the Interior Department late Friday announced it was canceling two Arctic ocean oil lease sales scheduled for 2016 and 2017. The agency also cited a lack industry nominations of specific areas of exploration interest as a reason for not going forward.