Reuters wrote that “Shell“ is withdrawing due to “changes in the energy environment“.
They remind that in 2011, Federation of B&H signed an Agreement on understanding with “Shell“, which was then extended during 2013 and 2014.
In a letter to the Government of the FB&H, “Shell“ stated that negotiations were not continued and that the Agreement expires on 4th November.
The company stated that it will not seek to extend the Agreement “in a light of the current energy environment“.
According to the earlier Agreement, it needed to invest between $ 300 and $700 million in the oil exploration in the FB&H.
After “Shell“ gave up, Government of the FB&H will discuss the letter received from this company.
Reuters stated that, during this week, “Shell“ also gave up on the oil exploration in the Arctic.