Brent Crude oil was trading around the $95 mark on Wednesday.
According to research cited by BusinessTech from the Energeo Alliance, offshore oil exploration and subsequent operations could have contributed as much as R23 billion to South Africa's economy each year and created around 20,000 jobs. These figures are projections, not money that South Africa has already lost, but they illustrate the potential economic opportunity attached to offshore resources.
That distinction matters.
The court did not rule that South Africa should never explore for oil. It found that Shell and its partner, Impact Africa, had failed to adequately consult affected communities before proceeding with the exploration right. The ruling therefore places a legal and constitutional limit on how resource development can happen, rather than simply declaring economic development incompatible with environmental protection.
South Africa has a serious unemployment problem. The official unemployment rate reached 33.6% in the second quarter of 2026, with 8.5 million people unemployed. At the same time, the economy grew by only 1.1% in 2025.
