Halts offshore Alaska project

Guardian: BP has abandoned its controversial £1bn plan to drill for 100m barrels of oil off the coast of Alaska. The British oil company, which is still smarting from the Gulf of Mexico disaster two years ago, said it was pulling out of the Liberty field project because it would be too expensive to drill safely. BP had planned to "make history" by drilling "the longest extended–reach wells ever attempted", up to eight miles out and two miles down. The project would also have involved building a 12.6...

URL: http://www.guardian.co.uk/business/2012/jul/11/bp-halts-offshore-alaska-project