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Oil firm Shell gets 'conditional' approval for Arctic oil exploration

  • Oil giant Royal Dutch Shell has got conditional approval from the US government to explore oil in the Arctic, a move environmentalists are opposed to.

    Shell has to get the nod from other regulators to get the final green signal for digging.

    The oil company has already spent around $6 billion on Arctic exploration. According to estimates, the region has one-fifth of the world’s yet-to-be-discovered oil and gas.

    The US Bureau of Ocean Energy Management said that it had taken a “thoughtful approach” in considering “potential exploration in the Chukchi Sea.”

    Tagged as: Oil giant, Royal Dutch Shell, US government, Arctic digging, Arctic exploration, Chukchi Sea, business news