• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 37 mins Would bashing China solve all the problems of the United States
  • 39 mins Model 3 cheaper to buy than BMW 3 series.
  • 2 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 1 hour Pompeo's Hong Kong
  • 1 min Thugs in Trumpistan
  • 3 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 1 day COVID 19 May Be Less Deadly Than Flu Study Finds
  • 3 hours China’s Oil Thirst Draws an Armada of Tankers
  • 35 mins Coronavirus hype biggest political hoax in history
  • 13 hours Income report showing potential future spending and economic growth
  • 14 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 15 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 2 days China to Impose Dictatorship on Hong Kong

POLAND: Shale Tax Policy Delay, Little Appeasement for Investors

Bottom Line: Shale gas explorers in Poland get a bit of a boost (but not enough) as the government prepares to postpone shale gas production tax collection for five years after it comes into force.

Analysis: Poland’s new law on hydrocarbon taxes comes into force in 2015, but the government - very wary of more explorers abandoning its prospects—is planning to postpone this for five years, meaning that taxes would not be collected until 2020. Not too long ago, Poland was heralded as Europe’s best shale gas prospect, but drilling has been slow and somewhat disappointing so far. Over 100 permits have been awarded but the country is still far from proving that it has enough shale to become gas dependent and loosen Russia’s grip. A total of 39 wells are planned for this year—only 2 of which have been drilled so far. Marathon Oil Corp. (MRO) is seeking to divest its 11 licenses in Poland and Canadian-based Talisman Energy Inc (TLM) pulled out in April. Exxon Mobil Corp (XOM) has also pulled out, while Chevron Corp (CVX) is staying, for now. 

Recommendation: Poland’s shale gas production tax delay is not law yet, but is likely to be pushed through. However, this is not the elixir for exploration as the new hydrocarbon law overall is not attractive to investors, raising the government’s stake to a whopping 80% of production profits. There are other aspects of the hydrocarbons law that will also quash investment and…




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