TotalEnergies, Shell's Oil Exploration Permit Reportedly Rescinded by South African Court

MT Newswires Live
08/14

TotalEnergies (TTE) and its joint venture partner Shell's (SHEL) environmental authorization to explore for oil in a block off South Africa was rescinded by a local court, media outlets reported Thursday, citing court documents.

The court said, however, that TotalEnergies should be given an opportunity to rectify the shortcomings identified, which included an inadequate assessment of the potential socio-economic consequences of oil spills.

In a statement to MT Newswires, TotalEnergies E&P South Africa said it had ceased operations at the block in July 2024.

"From the outset of the exploration project, Block 5/6/7 joint venture complied with all required local regulations, in particular environmental and social," the company said.

TotalEnergies E&P South Africa and Shell both told MT Newswires in separate statements that they were reviewing the judgment and will decide on the next course of action.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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