London — The Swiss multinational Glencore has ended all its illegal oil exploration activities in the territorial waters of Western Sahara, occupied by Morocco, said the Western Sahara Resource Watch (WSRW) in a statement.
Glencore, one of the world's largest companies present in the occupied territory since 2013, has left the Boujdour Offshore Shallow oil exploration block, said the source.
The withdrawal of the company from this block comes following the pressing request from international investors, who refused to be involved in illegal projects, explained the WSRW.
Many banks and investors have blacklisted Glencore over oil exploration in occupied Sahrawi territories.
In May 2017, the company told Swiss media that it intended to depart from the block.
The withdrawal of Glencore would contribute to the peace process, said WSRW.
"As long as Morocco can partner with foreign companies for oil search in the territory that it occupies, Morocco will not return to the UN negotiating table," said Sylvia Valentin of WSRW. (SPS)