Reuters: Shell Pulling Back from Shale in South Africa

Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country manager said on Monday.

A more than halving of crude oil prices since June last year has put high cost projects such as shale gas exploration in jeopardy around the globe, Shell South Africa Chairman Bonang Mohale told Johannesburg station Talk Radio 702.

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