Oil Majors To Share Arctic Data With Feds

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Three of the world's largest oil companies signed an agreement with the National Oceanic and Atmospheric Administration to share data on ocean, coastal and climate science in the Arctic region. The agreement is aimed on boosting the federal government's ability to monitor climate change in the region.

Royal Dutch Shell (RDS-A), Europe's largest oil company, Statoil (STO), Norway's largest oil company, and ConocoPhillips (COP), the third-largest U.S. oil company, are the oil majors in the pact with the federal government.

A dramatic reduction in sea ice as a result of climate change has raised new environmental, economic, and national security issues that have immediate and long-term impacts for human lives, livelihoods, coastal communities and the environment and demand extensive and collaborative analysis, according to the Alaska Dispatch.

All three companies have significant footprints in Alaska and Shell recently cleared another regulatory hurdle in its efforts to begin Arctic drilling projects in the Beaufort and Chukchi Seas next year.