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According to Fit for $50 Oil in Africa, Africa has reported substantial successes in the exploration for hydrocarbons over the past decade. However, oil and gas explorers will need to rethink their expenditure in Africa in light of the drop in the global oil price.
The government is working on a set of regulations that will ensure that shale gas exploration does not threaten South Africa's environment or compromise research projects linked to the Square Kilometre Array, says Mineral Resources director-general Thibedi Ramontja.
Camac Energy, a US-based oil and gas exploration and production company focused on energy resources in Africa, on Monday became the first new company to list on the Johannesburg Stock Exchange (JSE) in 2014.
The Cabinet has approved the gazetting of draft technical regulations on shale gas exploration and exploitation by means of hydraulic fracturing, or fracking, saying it could provide huge impetus for the industrialisation of South Africa's economy.
Australian minerals exploration and development company Ferrum Crescent, which has sole operations in South Africa's Limpopo province, has secured a secondary listing on the JSE's main board.