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More Alaska Oil Projects Shelved: Arco Alaska Inc...

June 16, 1989

More Alaska Oil Projects Shelved: Arco Alaska Inc. announced that it has canceled two major North Slope Alaska oil development projects because the state raised certain oil taxes after the Exxon Valdez spill. Arco Alaska put the value of the projects at $93 million. Last week, BP Exploration shelved an $80-million project because of the tax increase.

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