Labour federation SAFTU says Shells reported plan to leave South Africa has come as a shock as the country is the international oil giants lucrative market.
The decision is said to be linked to a disagreement with its Black Economic Empowerment (BEE) partner, Thebe Investment Corporation, regarding the valuation of Thebes stake in Shell Downstream South Africa (SDSA).
SAFTUs spokesperson, Trevor Shaku says the news has come as a shock.
Quite often youll find a tendency of these bigger companies often leading to the devaluation of the assets of smaller companies trying to cheat them. So it is a battle which belongs to the cattle functions themselves. But we think that the state has to step in to ensure that one - if Shell does leave, we are able to expand the ownership of liquefied energies in the country and are able to expand the public ownership of the daily fuel, especially those which are consumed by the citizens.
SAFTUs Trevor Shaku on SAfm:
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