Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Shell examines ruling on fracking ads

Jul 06 2011 18:30 I-Net Bridge

Related Articles

Shell accused of misleading on shale gas

Shell may spend R1.4bn on Karoo plans

Shale gas: what the frack is the truth?

Karoo residents to block gas bid

Shell profit rockets in first quarter

'Shell gas plans may affect telescope'

 

Top Stories

Gauteng road project costs rocket

May 25 2012 13:58

The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.

Greek euro worries pressures rand

May 25 2012 19:13

Uncertainty over the future of the euro zone returned to push the rand down against the dollar.

JSE halts 'incorrect' trade

May 25 2012 11:36

The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.

 
Share Share line Print
Cape Town - Shell SA on Wednesday said it was disappointed with a ruling by the Advertising Standards Authority (ASA) against its advertisements relating to hydraulic fracturing (fracking) in the Karoo.

The complaint was brought against the petroleum company's adverts that appeared in the Sunday Times and other newspapers by theTreasure the Karoo Action Group, which has been campaigning against the use of the controversial technique to extract shale oil in the Karoo.

The ASA dismissed four of the nine complaints, upheld four and did not make a decision on one complaint as it fell outside its mandate. However, the ASA said that in its opinion "the claim and reference does not fall foul of the provisions of the (advertising) code".

Shell SA said it was reviewing the grounds of the ruling.

"We are disappointed by the ruling. The purpose of the advert was to provide information direct to the public to enable them to properly assess the nature of the proposed shale gas exploration in the Karoo, as well as the accompanying technology of hydraulic fracturing," said Shell SA chairperson Bonang Mohale.  

He said the advert was a technical statement of the company's opinions and understanding of the implications of shale gas exploration in SA.

"The advert was intended to bring to the public's attention, in an open and transparent manner, Shell's commitments and information that are already in the public domain," he said.

Claims refuted


In its reply to the ASA, Shell refuted allegations made by the Treasure the Karoo Action Group that the advert was "misleading, dishonest, untruthful and prepared without any appropriate sense of responsibility".

Mohale said: "We consider the advert, along with our environmental management plan, which has been available since March, as part of our duty to keep the public informed of our proposed exploration project. The subject is technically complex, spanning the fields of science and engineering and we believe it is in the interest of the public to hear our views."

Mohale said that natural gas could bring jobs and electricity to many South Africans while helping to reduce CO2 emissions. "It needs to be done responsibly and we welcome the public debate."

The government imposed a moratorium on shale gas exploration in the Karoo earlier this year on concerns that there was not enough information about the long-term effects of fracturing, through which water and chemicals are pumped into the ground through a drill rig to force the gas to flow.

Treasure the Karoo Action Group has welcomed the ASA's ruling.  

Last month France became the first country to ban the technique outright.

 
 
Comment on this story
4 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

NicolaaSmith

CIPPA equals automatic zero erosion in the constant item economy We do not have stable – as in fixed real value – money. The real value of money is generally accepted by the public at large to be stable – as in fixed – in low inflation economies, but this is not true. The be... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...