18 June 2012

POLAND / USA : EXXON Shale Exploration Pullout Shocks Warsaw.


     Warsaw's hope of escaping energy dependence on Russia...with massive new finds from shale nat gas...has been dealt a serious blow.
     USA energy giant Exxon announced it is ending its exploration projects there...after 2 test drillings came up dry.
     XON still controls 4 exploration licenses..and 2 jointly with Total.
    Exxon claims commercial exploitation of Polish shale gas is at least 5 years away.
    So far...Poland has issued 112 exploration licenses.
    Other energy firms...including Chevron and Total...say they are still committed to Polish shale gas.