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The other boom: Update on the Arctic Basin and its role in global energy

from By Lucy Wallwork

All eyes are currently on the U.S. energy boom, led by the unprecedented exploitation of unconventional reserves. But what progress has there been on exploration of the vast reserves lying under the Arctic Ocean? And how have they been adapting to the transformed market realities? After an initial burst of excitement — as technically challenging Arctic exploration finally became commercially feasible — oil majors have backed off in recent months. more

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