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Swiss bank stops investing on offshore Arctic projects

According to Reuters, the Swiss UBS Bank decided to stop providing its support concerning drilling in the Arctic. In fact, the bank will stop funding future offshore oil and gas projects located in Alaska, amid efforts to face climate change.

US approves oil and gas island off Alaska

The US Bureau of Ocean Energy Management issued conditional approval to Hilcorp Alaska for its Liberty Project oil and gas development and production plan. If developed, the facility will be the first oil and gas production facility in federal waters off Alaska.


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