OSLO, April 4 (Reuters) - Oil major Royal Dutch Shell has pulled its application from Norway's Arctic-focusedoil licensing round, the firm said on Monday, in a blow toNorway's ambitions to explore for oil and gas in its northernoffshore areas.
"The decision is part of an optimisation of Shell's globalportfolio following the acquisition of BG and a persistently lowoil price," the company's Norwegian unit said in a statement."Norway remains one of our core areas."
In December the Norwegian oil ministry said Shell were amongthe companies who had applied for drilling permissions in theso-called 23rd round, a licensing round set to move the searchfor hydrocarbons closer to the country's border with Russia. (Reporting by Stine Jacobsen, editing by Gwladys Fouche)