Report: Shell reviews fracking plans
Oil and gas multinational Shell is reconsidering its business plans outside the Americas, including fracking, Business Day reported on Tuesday.
Shell SA chairman Bonang Mohale confirmed to the newspaper that the company had "critically reviewed the competitiveness" of its projects and plans internationally.
"As part of this review, we have adjusted activities in tight/shale oil and gas opportunities outside the Americas as well as the local exploration resources, such as staffing in SA," he was quoted as saying.
Mohale also said that the company needed clarity on the Mineral and Petroleum Resources Development Bill, which was passed a year ago. President Jacob Zuma sent the bill back to Parliament earlier this year due to constitutional considerations.
Mohale said: "Should attractive commercial terms be put in place, the Karoo project could compete favourably within Shell's global tight/shale gas and oil portfolio."
The company would continue engaging government, industry, and South Africans about the long-term prospects of shale gas.
(File photo: Gallo Images)