ZAWIERCIE, Poland Jan 18 Poland's planned tax
on oil and gas exploration could be less than the 40-percent of
the sector's gross profit approved by the government last year,
Environment Minister Marcin Korolec said on Friday.
Poland hopes to capitalise on the production of shale gas
but the government's plans for a hefty tax put forward in
October has been criticised by representatives of some licence
"The tax on gas and oil exploration will not vary much from
what was approved by the government in October and it will
definitely not exceed the 40 percent of the sector's gross
profits. It might turn out to be slightly lower," Korolec told
Korolec said the draft law for the new tax would be
published in the coming days.
Poland granted 113 shale exploration licences to domestic
and global firms, including Chevron Corp and Marathon
It had high hopes for domestic shale gas after a 2011 study
by the U.S. Energy Information Association estimated its
reserves at 5.3 trillion cubic metres, enough to cover domestic
demand for around 300 years.
But Poland's own study slashed the estimate for recoverable
shale gas reserves to between 346 billion and 768 billion cubic