Energy Business Review: Shell Leaves Alaska, Chevron’s Troubles In Brazil
Royal Dutch Shell (RDS.A)(RDS.B) abandons its plans to search for oil in Alaska in 2012, subsequent to the damage suffered by a containment dome during safety tests. It will take time to repair the dome, which would be used in the case of a spill. In the meantime, Shell will still conduct preliminary drilling of “top holes” and then return to them next year.
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Waste Connections, Inc. (NYSE:WCN) will acquire the business and operating subsidiaries of R360 Environmental Solutions for an amount close to $1.3 billion. R360 supplies non-hazardous oilfield waste treatment, recovery and disposal services at such active oil- and gas-producing locations as the Eagle Ford, Permian, and Bakken basins.
Chevron Corporation (NYSE:CVX) is fined 35 million reais, or $17.3 million, along with possible extra fines pending, by the oil regulator of Brazil for its role in November 2011′s Frade field offshore oil spill. A previous decision by the country’s second-highest court that bans operations by both Chevron and Transocean Ltd. (NYSE:RIG) was upheld last week.
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