Africa Links 24 with Daily Maverick
Published on 2025-01-09 08:16:31
Shell will write down around $400 million over an oil discovery offshore Namibia it deemed commercially unviable.
This is a blow to the country’s efforts to become a crude producer.
Shell told Reuters this week that discovered oil and gas resources in offshore block PEL39 in Namibia “cannot currently be confirmed for commercial development”.
Shell and its partners, QatarEnergy and Namibia’s national oil company Namcor, first discovered hydrocarbon in block PEL39 in 2022,…
Read the Full article on The Namibian
