Shell

After spending billions and waging legal battles for years, Royal Dutch Shell plc is abandoning all but one leasehold in Alaska’s Chukchi Sea and is evaluating its Beaufort Sea holdings, citing an “unpredictable” regulatory environment and poor initial drilling results. ConocoPhillips and two other operators also have dropped hundreds of leaseholds in the frigid waters.

Royal Dutch Shell plc has reduced its 2016 capital spending by another 10% and warned Wednesday that low natural gas and oil prices are continuing to weigh on executing expansion plans in North America.

Royal Dutch Shell plc has reduced its 2016 capital spending by another 10% and warned Wednesday that low natural gas and oil prices are continuing to weigh on executing expansion plans in North America.

Extensive site preparation and behind-the-scenes administrative work is continuing for Royal Dutch Shell plc affiliate Shell Chemical Appalachia’s proposed multi-billion dollar ethane cracker in Western Pennsylvania.

Royal Dutch Shell plc, which less than four months ago launched an unconventional natural gas and oil resources arm to build its expertise, has decided to roll the business back into upstream operations. U.S. operations chief Marvin Odum, who oversees the unconventional unit, also is stepping down.

A final decision on whether to move forward with the massive LNG Canada export project has been “pushed out to the future,” while unconventional oil and natural gas projects are on the longer-term list, Royal Dutch Shell plc CEO Ben van Beurden said Thursday.

The proposed merger of Royal Dutch Shell plc and BG Group plc cleared one of the final hurdles Wednesday when more than 83% of Shell’s shareholders voted in favor of the cash-and-stock deal, now valued at about $50 billion, to create a global energy giant.

Royal Dutch Shell plc said Wednesday capital spending this year — following its combination with BG plc — would be about $33 billion, $2 billion less than in 2015 but 45% less for the combined companies’ spend in 2015. With thetie-up, about 10,000 staff and contractors are also expected to lose their jobs.

Eight conservation groups led by Earthjustice have filed to intervene and defend a decision by federal officials to deny Royal Dutch Shell plc the right to extend its drilling leases offshore Alaska.