Canada Rules Out Arctic Drilling Extensions for Exxon and BP Amid Moratorium

By Josh Wingrove and Robert Tuttle (Bloomberg) -- The Canadian government says it won’t grant extensions to exploration licenses for Exxon Mobil Corp., BP Plc and other oil firms as it prepares for consultations over the impact of an Arctic drilling moratorium. The companies hold leases that expire over the next six years, totaling C$1.9 billion ($1.4 billion) in … [Read more...]

U.S. Ban On New Arctic Drilling Gives Canada Leg Up, Lawmakers Say

OTTAWA, Dec 21 (Reuters) - U.S. lawmakers on Wednesday slammed an agreement made with Canada to ban offshore Arctic drilling, saying Ottawa's plan to review its ban every five years gives Canada a leg up on energy exploration. U.S. President Barack Obama on Tuesday announced a ban on new oil and gas drilling federal waters in the Atlantic and Arctic Oceans, while Canada … [Read more...]