Shell Oil

After posting a gain of around $4 billion in the second quarter of 2015, Royal Dutch Shell says it lost more than $7.4 billion in the third quarter. Lower oil prices played a role, as did the costs Shell incurred when it shut down large-scale projects.

Faced with crude oil prices that have now been slumping for more than a year, Shell and other oil big companies are restructuring their businesses and cutting costs.

NPR's Jeff Brady reports:

The drilling rig Noble Discoverer is shown in Alaska's Dutch Harbor before it went to the Arctic.
KUCB photo/John Ryan

Shell's two Arctic oil rigs pulled into Unalaska's Dutch Harbor on Sunday, some 1,100 miles south of the company's drilling site in the Chukchi Sea.

While Shell spokeswoman Megan Baldino said the rigs' final destinations are still being determined, they will not be returning to Seattle.

The Polar Pioneer oil rig in Terminal 5 at the Port of Seattle this summer.
KUOW Photo/John Ryan

In the end one battle over Shell Oil’s Arctic drilling effort came down to the Websters New Collegiate Dictionary’s definition of “good.”

A Seattle hearing examiner gave the Port of Seattle, Foss Maritime and Shell a victory Wednesday by deciding that materials loaded onto Shell’s ships at Terminal 5 met that definition.

The drilling rig Noble Discoverer is shown in Alaska's Dutch Harbor before it went to the Arctic.
KUCB photo

After sinking eight years and more than $8 billion into the effort, Shell Oil is pulling out of the Arctic Ocean, the company says.

Shell announced Monday it will seal and abandon the test well it drilled in Alaska's Chukchi Sea, and end its offshore exploration in the Arctic for the foreseeable future.

The company cited high costs, challenging federal regulations and poor results from a test well.

Why It Costs So Much To Drill In The Arctic

Sep 28, 2015
The drilling rig Kulluk was grounded in 2013 after efforts by U.S. Coast Guard and tug vessel crews to move the vessel to a safe harbor during a winter storm during a tow from Dutch Harbor, Alaska, to Everett, Wash.
Flickr Photo/U.S. Dept. of Defense (CC BY NC ND 2.0)/

Ross Reynolds talks to New York Times reporter Steven Myers about why we haven't seen the arctic oil boom everyone predicted.

Shell Oil's Polar Pioneer left the Port of Seattle for Alaska on the morning of June 15, 2015.
KUOW Photo/Brian Gregory

Ross Reynolds speaks with Seattle Times economics columnist Jon Talton about how Shell Oil's decision to stop off-shore arctic oil drilling might affect Western Washington. Also, they talk about how Chinese President Xi Jinping's visit to the Seattle area could affect the economy long-term.

Shell's Polar Pioneer was greeted by dozens of protesting kayakers when it arrived in Seattle this spring.
KUOW Photo/John Ryan

Environmentalist are celebrating Shell’s decision to stop oil exploration off Alaska’s northern coast indefinitely, but the immediate future of the company’s base at the Port of Seattle is unclear.

Citing a lack of enough oil to make the project worthwhile, Royal Dutch Shell Oil is halting its effort to drill for oil off Alaska's shore "for the foreseeable future." The company has spent some $7 billion on the exploration project.

Obama's Alaska Trip Prompts Arctic Drilling Protest

Aug 31, 2015

People protesting oil drilling in the Arctic marched through downtown Portland Monday, and held a “die-in.” They're trying to send President Obama a message as he travels to Alaska this week.

Several dozen protesters carried placards, chanted and made their way to the federal building downtown, where some lay down for a “die-in.”

They said drilling in the Arctic will wreak havoc on the fragile ecosystem, and could bring the world closer to the 2 degree Celsius temperature increase scientists are warning about.

Kayakers protesting the arrival of Shell's Polar Pioneer rig in Port Angeles in April
KUOW Photo/Joshua McNichols

Environment groups have another opportunity to stop a Shell Oil rig from returning to Seattle.

They are appealing a Superior Court decision from earlier this summer that the Port of Seattle could host Shell's Arctic drilling fleet without conducting an environmental review.

The Polar Pioneer at Port Angeles last spring.
kuow photo/gil aegerter

ANCHORAGE, Alaska - The federal government on Monday gave Royal Dutch Shell the final permit it needs to drill for oil in the Arctic Ocean off Alaska's northwest coast for the first time in more than two decades.

Foss Maritime tugs pull the Polar Pioneer past downtown Seattle on the way to Terminal 5 on Thursday, May 14, 2015.
KUOW Photo/Gil Aegerter

Shell’s Polar Pioneer, briefly a resident at the Port of Seattle's Terminal 5,  is drilling for oil in the Chukchi Sea. The question is whether the rig can return to Seattle this fall -- and whether it can stay the winter. 

The Port of Seattle and Foss Maritime Co. are appealing a city decision to try to stop the rig. A city examiner is hearing arguments about what should happen next.

Delayed Shell Icebreaker Arrives In Arctic

Aug 12, 2015

Shell’s wayward icebreaker made it to the company’s Arctic Ocean drilling site Tuesday. The arrival of the Fennica after a month’s delay means the company could get to drill for oil beneath the Chukchi Sea this summer.

Currently, Shell only has permission to do shallower drilling into non-oil-bearing rocks off Alaska’s northwest coast.

With the Fennica steaming toward the Arctic, Shell submitted an application to the Interior Department on Thursday for permission to drill into deeper, oil-bearing rocks.

The U.S. Coast Guard says it has notified five Greenpeace protesters they are being fined $5,000 each for interfering with the safe operation of a vessel, during their effort to blockade a Royal Dutch Shell icebreaker in Portland for repairs.

The protesters facing the fines include three who dangled on lines below the St. John's bridge for 40 hours, and two support staff who were on the deck of the bridge.

The violations have been referred to a Coast Guard hearing office in Virginia. The protesters have the right to appeal.