The Guardian | Can Shell afford Arctic oil? The Guardian This is the first time the Anglo-Dutch giant's star-crossed Arctic programme will drill deep enough to hit oil. The company has reportedly spent $7bn (£4.5bn) on getting to this point, including replacing its prize Kulluk rig after it ran aground off ... Shell Arctic drilling 'risky' - ex-BP boss Lord Browne Shell Dumps ALEC as Oil Giant Prepares to Drill in Arctic |