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U.S. approves Shell's plan to drill for oil in Arctic

Published 11/05/2015, 19:17
Updated 11/05/2015, 19:23
© Reuters. Shell's company logo is pictured at a gas station in Zurich
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WASHINGTON (Reuters) - Royal Dutch Shell (LONDON:RDSa)'s quest to return to oil drilling in the U.S. Arctic for the first time since 2012 took a big step forward on Monday when the Obama administration approved the company's exploration plan.

© Reuters. Shell's company logo is pictured at a gas station in Zurich

The Department of Interior approved the plan in a move that had been expected. Now Shell must only get several permits from the federal government and the state of Alaska in order to begin drilling this summer. Shell has not drilled in the Arctic since its mishap-filled 2012 season, when the company was forced to evacuate the Kulluk drill rig, which eventually grounded.

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