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Business Matters: Shell Freezes Plans to Drill in the Arctic

Shell Freezes Plans to Drill for Oil and Gas in the Arctic Circle.

29/09/2015 GMT

Shell Freezes Plans to Drill in the Arctic

BBC World Service - Business Matters, Shell Freezes Plans to Drill in the Arctic

Oil giant Shell says it is halting its controversial exploratory programme in Alaska

Oil giant Shell says it is halting its controversial exploratory programme in Alaska.

Shell has frozen plans to drill for oil and gas in the Arctic circle. It is a big and costly change of heart. The company has spent more than $7bn on investigating the potential of the region, but now says it simply has not found enough oil and gas there to warrant further exploration. Environmental activists are delighted. We speak to Anna Jones, head of the Arctic Campaign Group in the UK and Per Magnus Nysveen, an analyst at Rystad Energy in Oslo. 

Volkswagen's former chief executive Martin Winkerkorn is being investigated on fraud allegations. German prosecutors are looking into his exact role in the rigging of emissions tests affecting millions of diesel vehicles. Now VW's subsidiaries Audi and Skoda have said they have 3.3 million cars fitted with the rogue software enabling them to mislead testers. Roger Bootle, managing director of Capital Economics tells us how damaging the scandal is for German manufacturing's reputation.

The Indian prime minister Narendra Modi was welcomed by thousands of expats at a stadium reception in San Jose on Sunday and had a public meeting with Facebook founder Mark Zuckerberg. Some 26% of tech companies in Silicon Valley are founded or run by Indians and Indian Americans. But there is also a growing number of tech entrepreneurs who are deciding to develop their businesses in India. We speak to Josh Israel who has founded a new dating app.

Our two guests througout the programme are Nitin Sethi, a journalist with Business Standard in Delhi and activist and freelance business journalist Alexis Goldstein in Washington.

(Photo: A boat crosses in front of an oil drilling rig in the Pacific which Royal Dutch Shell planned to use for exploratory drilling. Credit: Associated Press)

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