Investing
Shell Gains US Approval on Spill Plan for Arctic Drilling (RDS-A, BP)
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The US Department of the Interior has approved an oil-spill plan presented by Royal Dutch Shell plc (NYSE: RDS-A) to respond to a potential spill when the British/Dutch company begins to explore its leases in the Chukchi Sea off the north coast of Alaska. The company’s plan incorporates changes made to spill response regulations following the explosion of a rig leased by BP plc (NYSE: BP) in the Gulf of Mexico.
Environmental activists had asked that the Department reject the proposed spill plan until oil companies were better equipped to deal with spills in the icy, and often frozen, waters in the Arctic.
Shell still needs to get a permit from the Department of Interior before it can begin work.
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