Shell retreats from shale projects in South Africa

Due to the oil price plunge, Royal Dutch Shell is retreating from its shale projects in South Africa, according to Reuters.

The company, however, is still waiting for an exploration license for the onshore Karoo Basin. Shell has been waiting for this license for six years. Environmentalists and land owners in the basin have expressed concerns that exploring for shale by hydraulic fracturing will cause environmental damage.

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