BEE Shakedown of Shell? | Is Shell divesting from South Africa after 122 years?

Author Avatar

Colonel Chris Wyatt

Joined: May 2024
Spread the love


BEE Shakedown of Shell? | Is Shell divesting from South Africa after 122 years?


What is going on in South Africa? Is Thebe Investment simply seeking to cash out its $73 million investment in the 28% stake of Shell South Africa’s downstream business now owned by its new parent BBT? Or is there something else going on here? You decide as I unpack the facts.

Selected…

source

Reviews

0 %

User Score

0 ratings
Rate This

Sharing

Leave your comment

Your email address will not be published. Required fields are marked *

35 Comments

  1. What are the chances Russian (Gazprom) might swoop in once all these Western energy corps move out?. Seemingly the Russians are also involved in a gas pipeline project from Mozambique?, I think… routed for South Africa.

  2. Thank you Colonel for clearing all the information.
    An intresting point is that the environmental warriors went to the local black communities for support against exploration.
    Telling them they won't benefit from it and that the exploration would anger their ancestors.
    So much for pushback being a form of apartheid. 😂

  3. Is ou Shell nie die klomp wat die Karoo wou besoedel het met skallie gas storie nie, en wat ook in die Oos Kaap kusgebied ons see lewe wou venietig het nie?? – Laat hulle gaan-baai

  4. SA should have shifted its focus to Brics shortly after signing up to the pact, if they wanted to gain + support Brics. But they kept the west as main trading partners. Just to land up in a pressure cooker between the west + Brics. How clever is that?
    Sad when ur politicians let go of the technology to refine fuel just when oil + gas are discovered. But it is what it is, with these anc Einsteins.
    Did they try to trick Shell into more money than they deserve, just like theyve been doing to SA taxpayers, consumers + the poor? Time will tell, but the Russians + the Chinese will be more disciplined than western multinationals bribing their way into profits. The anc + their cronies better ship up or ship out, before these strong economies crack down on their immature tricks.

  5. I certainly am not surprised as the ANC led government always tags onto things that make good money and then kills the very same goose that lays the golden egg. It's a fact. Not one thing the government is involved in directly or indirectly makes money. The only ones making sre those elitists of the ANC who enrich themselves thru blatant corruption

  6. Well known ANC…..smoke and mirrors to get their hands on money, ANY MONEY! Because they do not care about the country, its people or the future of the country!. The ANC mantra: "If there is no money in it for US, veto the deal and ruin the country". They are only in it for immediate self-gain. Watch what else they will come up with in these last six weeks leading up to the election.

  7. People were speculating that this may indicate that the ANC intend to buy oil from Iran, given that Iran is in the middle of potential WW111 it sounds like a typically ill conceived and poorly considered decision

  8. These 'investment vehicles' of the ANC are inherently corrupt. It results in a conflict of interest between the regulator and the business. Basically, the licensor is a partner in a licensee. It is a contravention of the US's Foreign Corrupt Practices Act, who's jurisdiction extends beyond US territory if some financial link to the US can be established. Hitachi Africa paid a $19 million 'no contest' fine to the SEC for a similar corrupt relationship between Hitachi and another investment vehicle of the ANC, Chancellor House, for the disastrous construction of the Medupi power station that still doesn't work. Here the customer, the supplier, and the regulator were all partners. Shell's parent company's shares are traded as ADRs on the NYSE, so the SEC would have jurisdiction also. I hope Shell doesn't get away with it, but I know the ANC probably will.

  9. I can explain the unround 28% stake. It was probably 30% at the onset, but somewhat diluted with further issues to employee shareholding schemes etc. In South Africa, a shareholding of 25% or more usually gives you power to veto certain resolutions.