Shell pulling back from shale in South Africa

by Reuters 0

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.