Norway’s biggest oil and gas companies are reviving exploration plans in Arctic waters, as the government agitates for fresh discoveries in the Barents Sea to secure the country’s future as a key energy supplier to Europe.
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms.
The Trump administration gave final approval on Monday for a contentious oil and gas leasing plan on the coastal plain of Alaska's Arctic National Wildlife Refuge, where critics worry about the industry's impact on polar bears, caribou and other wildlife.
The Trump administration on Thursday took a major step toward auctioning oil drilling rights across every acre of the Arctic National Wildlife Refuge’s coastal plain, hours after the House of Representatives voted to outlaw the activity.
It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical about the industry that made them rich.
Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development of its northerly fields.
The Canadian government says it won’t grant extensions to exploration licenses for Exxon Mobil Corp., BP Plc and other oil firms as it prepares for consultations over the impact of an Arctic drilling moratorium.
Energy firms including Imperial Oil Ltd. and BP Plc will get a year of consultations to hash out the fate of their rights in Canada’s Arctic after Prime Minister Justin Trudeau’s drilling freeze set the stage for a dispute over license extensions.