CBN: Shell's Retreat from Shale Projects in SA Could Be a "Ploy"
Last week, Shell announced it was pulling back from its shale projects in South Africa due to lower energy prices and delays in obtaining an exploration licence for the onshore Karoo basin, the oil company said.
Shell said that as part of a review due to falling oil prices, the company had adjusted its activities in shale oil and gas opportunities away from South Africa.
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But the parliamentary source said, "Shell will resist saying it publicly, but they have given up on the government getting it together any time soon to fix the position of oil and gas companies in the Mineral and Petroleum Resources Development Act [MPRDA] or to release fracking [hydraulic fracturing] regulations."
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