ExxonMobil told shareholders it has no plans for Arctic Refuge development.

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ExxonMobil told shareholders the company has no plans for new oil and gas exploration or development in the Arctic Refuge. The statement came in response to a shareholder resolution asking ExxonMobil to assess whether to commit to not drilling in the refuge. ConocoPhillips and Chevron also said they have no plans for Arctic Refuge development. Chevron and Hilcorp paid $10 million to terminate their legacy leases in the refuge. ConocoPhillips has large interests and leases in other parts of Alaska's Arctic, including NPR-A's Willow project, but won't pursue Arctic Refuge drilling. The major oil companies' refusal to drill shows the economic and reputational risks outweigh potential benefits, even with billions of barrels potentially available.

ExxonMobil told shareholders it has no plans for Arctic Refuge development.

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