US cancels drilling rights auctions in Alaskan Arctic

The United States has announced it is calling off two auctions for oil and gas drilling rights in the Arctic off Alaska and has denied requests for lease extensions by Shell and Statoil. The move comes just weeks after President Barack Obama visited Alaska and Shell said its Burger J well in the Chukchi Sea, off the northwest coast of Alaska, did not warrant further exploration due to insufficient oil and gas being located and regulatory uncertainties.