Shell pulling back from shale in South Africa

by Reuters 2 views0

IOC divestments in Nigeria’s oil industry beneficial to local players

Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices, its country manager said on Monday.

(WATCH VIDEOShell SA a front runner in fast tracking shale gas and fracking)

“The reason to go to a low cost holding position … is as a result of a difficult period for world (prices),” Shell South Africa chairman Bonang Mohale told Johannesburg station Talk Radio 702.