MOSCOW, July 14 (ArcticFocus) – The Russian Navy has resumed military operations of its Northern Fleet in Arctic areas, including off coasts the Spitsbergen Island, the navy’s spokesman Captain Igor Dygalo told Itar-Tass on Monday.

“At present, the anti-submarine ship Severomorsk has come to the area and is fulfilling tasks, and the missile carrying cruiser Marshal Ustinov will stay in the area from July 17,” he said.

more »

Oil giant BP announced Monday it will spend $1.5 billion on the development of the Liberty Oil Field off the coast of Alaska. According to BP officials, the development is a step forward in the company’s objective to tap into an estimated 100 million barrels of reserves in the filed.
more »