Market Chatter: Shell Loses South Africa Oil Exploration Case at Top Court

MT Newswires Live

Aug 14

Shell (SHEL) has lost a legal battle with environmental activists over an oil exploration campaign off South Africa's Wild Coast, Bloomberg reported Friday.

The Constitutional Court ruled that the exploration right cannot be renewed, Bloomberg said.

The report said the five-year legal dispute began in 2021, when activists challenged Shell's planned seismic survey over concerns about community consultation and potential impacts on marine life.

Shell did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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