NGE Notes: Poland Bill on Hydrocarbons Extraction and Taxation

Poland plans to issue its draft bill on the taxation of hydrocarbon extraction and changes to procedures of issuance of licenses in June 13th.

The proposed legislation will placed under close scrutiny by both domestic and international companies involved in the exploration and development of shale gas.

The legislation will include provision for the creation of a hydrocarbon regulator and the establishment of a national fund that would reinvest a portion of tax proceeds to "support innovative potential of the Polish economy and inter-generational solidarity through investments in education, academia, science as well as R&D."

At a recent conference, Polish Prime Minister Donald Tusk declared that foreign oil and gas companies that are ready to invest in Poland can expect a stable economic environment, predictable legal conditions and friendly public opinion.