Italy's oil producer Eni SpA (E) has reduced its presence in Poland, letting two of its three shale gas exploration licenses expire, Poland's environment ministry said Tuesday.
Italy
's oil
producer Eni SpA (E) has reduced its presence in
Poland
,
letting two of its three shale gas exploration licenses expire,
Poland
's
environment ministry said Tuesday.
The third license remains valid until mid-2018.
Poland
's
Prime Minister Donald Tusk replaced his environment minister, Marcin Korolec,
in November; appointing Maciej Grabowski, a former deputy finance minister, in
his place. On his appointment, Mr. Grabowski was given a clearly-set goal of
accelerating the country's push into unconventional gas production.
Its efforts for change have stalled, however, becoming caught in red tape and
uncertainty over future taxes and regulations. The excessive bureaucracy and
delays in regulatory reform have prompted big investors such as Exxon Mobil
Corp., Talisman Energy Inc., and Marathon Oil Inc. to withdraw their initial
operations from the country.
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