Royal Dutch Shell has abandoned its controversial attempts to drill for oil off Alaska's northwest coast, citing disappointing results from exploratory wells. According to a report from The New York Times, the company said that while it had found "indications of oil and gas" in the region's Burger prospect, "these are not sufficient to warrant further exploration." The decision, which will be welcomed by environmental campaigners, means billions of dollars of writedowns for Shell, which spent $7 billion — or around 20 percent of its exploration budget — since 2007 developing prospects in the Arctic.
