Arctic

Wells Fargo & Co. (NYSE: WFC) has joined two other major banks in ending financing for oil and gas projects in the Arctic region. What Happened Wells Fargo said it would stop financing oil and gas projects on Alaska’s North Slope on Monday, according to Anchorage Daily News, a...

JPMorgan Chase & Co. (NYSE: JPM) will stop giving out direct loans for fossil fuel extraction projects in the Arctic, the company announced Monday. What Happened The New York-based banking giant would also stop giving out loans to companies who make the majority of their revenues from coal, the...

Royal Dutch Shell (NYSE: RDS-A) says it is stopping its oil exploration efforts in the Arctic waters off the Alaskan coast for the year. The announcement came as Shell announced a steep drop in its its fourth-quarter 2013 earnings The company's new CEO, Ben van Beurden, cited several factors,...