Damaged safety dome delays Shell Alaska operations
Royal Dutch Shell has been forced to delay plans to drill for oil and gas in Alaska after suffering a major setback in its preparations.
Royal Dutch Shell has been forced to delay plans to drill for oil and gas in Alaska after suffering a major setback in its preparations.
The company has committed to have "containment domes" in place during drilling to cap any well that suffered a leak or explosion, similar to BP's Gulf of Mexico disaster.
Shell says during testing in the last few days a containment dome was damaged and that "some days" will be required to repair and re-test it.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This means the whole schedule of operations has had to be moved back as the company also has to accommodate whaling operations and ice floe movements, with winter on its way.
Instead of drilling into possible hydrocarbon zones the company will instead begin as many wells, known as `top holes,' as time remaining in this season allows.
These initial well digs will be capped and abandoned for the winter but there is no chance of any discovery until at least 2013.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Zohran Mamdani, "Trump's worst nightmare", wows New York
Zohran Mamdani, 33, has won the Democratic candidacy to be mayor of New York. That has energised his supporters and enemies alike – and terrified the rich
-
What's behind the big shift in Japanese government bonds?
Rising long-term Japanese government bond yields point to growing nervousness about the future – and not just inflation