• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 3 hours Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 1 hour Peak Oil is Now!
  • 9 mins Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 2 hours Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 9 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 2 hours Corporations Are Buying More Renewables Than Ever
  • 16 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 21 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 23 hours The EU Loses The Principles On Which It Was Built
  • 24 hours Film on Venezuela's staggering collapse
  • 20 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 13 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 23 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
The “Weakest” EIA Report In Years

The “Weakest” EIA Report In Years

The EIA’s most recent weekly…

The Next Major Challenge For Norway’s Oil Industry

The Next Major Challenge For Norway’s Oil Industry

Norway’s oil industry faces new…

Poland's Natural Gas Monopoly Purges and Merges

Poland's natural gas monopoly, PGNiG, on Thursday announced plans to streamline its management and merge its subsidiaries after suffering major second-quarter losses.

The natural gas monopoly reported a net loss of 310 million zlotys ($95 million), which it blamed on the country’s energy regulator, URE, saying it failed to fully offset the higher cost of imported Russian gas with regulated gas price increases largely because it was unable to predict the weakening of the local currency, the zloty, according to Fox Business.

The PGNiG shakeup, according to new CEO Grazyna Piotrowska-Oliwa, is meant to render the company more consumer-friendly and the failure to do would risk the company’s market share amid intensifying competition.

“We can’t have fighting between fiefs right now,” Ms. Piotrowska-Oliwa told reporters.
PGNiG has multiple subsidiaries that operate in identical businesses, like drilling services, but have separate management boards and tend to be territorial instead of working together.

In September, the government will begin a partial liberalization process of its heavily-regulated natural gas market in an effort to boost competition. The liberalization will only be partial, meaning that the government will continue to set prices.

The European Commission has warned that Poland may be fined for continuing to regulate the market by setting prices. 

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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