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Assessing and promoting civil and minority rights in South Africa.

[Source: Herald Live.]

Shell is pulling back from its controversial Karoo fracking venture.

Responding yesterday to questions about the company pulling the plug on its plan to frack blocs across the eastern, western and northern Cape Karoo, Shell spokeswoman Dineo Pooe said the multinational was rescaling its Karoo team.

“With the low oil price environment, Shell has decided to rescale its Karoo team, reducing the number of staff whilst awaiting clarity on the Minerals and Petroleum Resources Development Act, technical regulations and an exploration right award decision,” she said.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
4.9% y/y in August 2018 (CPI) & +6.3 y/y in August 2018 (PPI)
-0.7% q/q (2nd quarter of 2018)
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