Royal Dutch Shell is to suspend its controversial drilling in Arctic waters off Alaska as part of a multibillion-dollar scaling back of spending on new projects under Ben van Beurden, chief executive. The Anglo-Dutch oil major said on Thursday that a US court appeals decision this month that challenged the granting of licences in the Chukchi Sea off northwest Alaska had prompted it to suspend plans for further exploration in the area. “This is a disappointing outcome, but the lack of a clear path forward means that I am not prepared to commit further resources for drilling in Alaska in 2014,” said Mr van Beurden. Shell’s retreat on plans to resume Arctic drilling this summer came as Mr van Beurden , who took over as chief executive of Shell this month, set out plans for sharp cuts in the company’s investment spending […]