Chevron shelves plans for Beaufort Sea drilling

Chevron Corp. has shelved plans to drill a multimillion-dollar deep-water well in Canada’s Beaufort Sea, blaming the sharp drop in oil prices that has forced deep spending cuts across the energy industry. California-based Chevron filed a notice with the National Energy Board on Wednesday withdrawing its application for an alternative to a same-season relief well. Read the rest here 20:11