Dow Jones: Poland's PGNiG: New Tax Will Lead to Closure of Gas Fields-Report

Poland's state controlled gas monopoly PGNiG  will be forced to shut down some of its gas fields, which will start generating losses once new gas and oil production taxes are introduced, Polish daily Dziennik Gazeta Prawna reports Friday, citing a PGNiG director.

Poland plans to introduce new and higher taxes on oil and gas production so the state benefits from any development of shale gas, but changes will also be applied to existing conventional gas wells, which often are close to break even levels, the report says.  MORE