Oil and gas joint venture announced for Canada's Beaufort

According to CBC News, Imperial Oil Ltd., ExxonMobil Corp. and BP have announced a new joint venture intended to help them avoid duplicating personnel and equipment after they gain regulatory approval to explore oil and gas potential in Canada's Beaufort Sea. Exploration won't begin on the leases, obtained in 2007 and 2008, until the National Energy Board completes its review of Arctic offshore safety regulations and environmental impacts. So far, no date has been set for that review to begin, according to board officials, but the board has taken public comments. Read much more, here.