• 5 mins EIA Weekly Inventory Data Due Wednesday, Despite Govt. Shutdown
  • 4 hours Oklahoma Rig Explodes, Leaving Five Missing
  • 6 hours Lloyd’s Sees No Room For Coal In New Investment Strategy
  • 9 hours Gunmen Kidnap Nigerian Oil Workers In Oil-Rich Delta Area
  • 11 hours Libya’s NOC Restarts Oil Fields
  • 12 hours US Orion To Develop Gas Field In Iraq
  • 3 days U.S. On Track To Unseat Saudi Arabia As No.2 Oil Producer In the World
  • 3 days Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan
  • 3 days Schlumberger Optimistic In 2018 For Oilfield Services Businesses
  • 3 days Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
  • 3 days Statoil, YPF Finalize Joint Vaca Muerta Development Deal
  • 3 days TransCanada Boasts Long-Term Commitments For Keystone XL
  • 4 days Nigeria Files Suit Against JP Morgan Over Oil Field Sale
  • 4 days Chinese Oil Ships Found Violating UN Sanctions On North Korea
  • 4 days Oil Slick From Iranian Tanker Explosion Is Now The Size Of Paris
  • 4 days Nigeria Approves Petroleum Industry Bill After 17 Long Years
  • 4 days Venezuelan Output Drops To 28-Year Low In 2017
  • 4 days OPEC Revises Up Non-OPEC Production Estimates For 2018
  • 4 days Iraq Ready To Sign Deal With BP For Kirkuk Fields
  • 5 days Kinder Morgan Delays Trans Mountain Launch Again
  • 5 days Shell Inks Another Solar Deal
  • 5 days API Reports Seventh Large Crude Draw In Seven Weeks
  • 5 days Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
  • 5 days EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
  • 5 days IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
  • 5 days Minister Says Norway Must Prepare For Arctic Oil Race With Russia
  • 5 days Eight Years Late—UK Hinkley Point C To Be In Service By 2025
  • 5 days Sunk Iranian Oil Tanker Leave Behind Two Slicks
  • 6 days Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators
  • 6 days WCS-WTI Spread Narrows As Exports-By-Rail Pick Up
  • 6 days Norway Grants Record 75 New Offshore Exploration Leases
  • 6 days China’s Growing Appetite For Renewables
  • 6 days Chevron To Resume Drilling In Kurdistan
  • 6 days India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round
  • 6 days India’s Reliance Boosts Export Refinery Capacity By 30%
  • 7 days Nigeria Among Worst Performers In Electricity Supply
  • 7 days ELN Attacks Another Colombian Pipeline As Ceasefire Ceases
  • 7 days Shell Buys 43.8% Stake In Silicon Ranch Solar
  • 7 days Saudis To Award Nuclear Power Contracts In December
  • 7 days Shell Approves Its First North Sea Oil Project In Six Years
Alt Text

Peak Oil Demand Is A Slow-Motion Train Wreck

Peak oil demand has been…

Alt Text

Shale Restraint Could Lift Oil To $80

With oil reaching $70 per…

Is the Shale Gas Revolution Coming to Europe? Should Russia be Concerned

Is the Shale Gas Revolution Coming to Europe? Should Russia be Concerned
European shale-derived natural gas could become a reality far sooner, and in far larger quantities, than markets expect

In a Securities and Exchange disclosure from last Thursday Chevron confirmed that it won new rights to explore Poland for potential shale gas, although the size of the acreage was not divulged.

Noted in the annual report, Chevron has acquired rights to explore for natural gas in the Grabowiec concession, located in the southeastern part of Poland.

The confirmation follows Chevron's announcement in December that the company was awarded three five-year exploration licenses for the Zwierzyniec, Kransnik and Frampol concessions, also located in Poland, to explore for unconventional gas resources, Dow Jones reported.

In December 2009, the Environment Ministry of Poland granted Chevron permission to carry out seismic studies and exploratory drilling up to 3,500 meters underground, as well as to develop shale gas resources.

Keep in mind that Chevron isn't alone in Poland. Exxon, Conoco, and Marathon are there as well investigating shale's potential. Which means that Polish shale is likely chock full of gas.

This is getting too big to ignore. One company takes a gamble, two might be foolish, three might simultaneously jump on a band wagon and drive off a cliff. But there is a critical mass of companies in Poland. Something is going on, and it's unlikely that many companies will be wrong all at the same time.

It's still not clear how much shale gas Poland could have, but Russia has to be worried. While it is known that Europe doesn't have the massive shale deposits of the U.S., it could still have enough to substantially reduce its reliance on Russian gas.




Back to homepage


Leave a comment
  • Anonymous on March 08 2010 said:
    Everybody doesn't have the belief in shale gas that some of the contributors to this forum have. I happen to be one of those everybodies. Of course, if the evidence indicates that not only is the gas there in very large quantities, but it is exploitable to the degree usually claimed, then I will go along with the crowd. And by the way, the over zealous talk of shale means at least two things to the Russians: plan to sell more gas to China, and think more deeply about the GASPEC that might appear before the end of the present year.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News