Totalsays energy companies should not drill for crude in Arctic waters, marking the first time an oil major has publicly spoken out against offshore oil exploration in the region.
Christophe de Margerie, Total’s chief executive, told the Financial Times the risk of an oil spill in such an environmentally sensitive area was simply too high. “Oil on Greenland would be a disaster,” he said in an interview. “A leak would do too much damage to the image of the company”.
Last week, Royal Dutch Shell was forced to temporarily abandon attempts to drill the first well in Alaska in two decades, after a piece of safety equipment was damaged during testing. The company has spent $4.5bn and seven years preparing to drill.
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