Sasol Plans to Cuts Back on Canadian Shale Gas

Bloomberg reported that Sasol Ltd. (NYSE:SSL) has decided to cut back on tapping natural gas from shale in Canada.

As quoted in the market news:

Sasol bought half of Talisman Energy Inc. (TLM)’s Cypress A and Farrell Creek operations in the Montney shale basin last year, anticipating higher profits from a move to gas-based fuel production. The South African company, studying the possibility of building a gas-to-liquids plant in western Canada, joins Chesapeake Energy Corp. (CHK) in reducing output plans as prices drop.

Click here to read the full Bloomberg report.