Royal Dutch Shell has informed Tunisian authorities it will hand back upstream concessions and leave the country next year as it turns its focus to renewable energy. The decision does not impact the ongoing brand licence agreement in the country with Vivo Energy, which distributes and markets Shell products to retail and commercial customers in Africa. The gradual departure of major western energy companies from Tunisia in recent years follows growing frustration with the country’s unstable regulatory and political environment since the 2011 revolution that has led to investments drying up.
SOURCE: REUTERS AFRICA