Shell stops Arctic activity after 'disappointing' tests

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Shell said it did not find sufficient amounts of oil and gas in the well to warrant further exploration, according to a BBC News report.

"Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the US," said Marvin Odum, president of Shell USA.

"However, this is a clearly disappointing exploration outcome for this part of the basin," he said.

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