WARSAW--Poland's Environment Ministry will present its long-awaited proposal on how to tax hydrocarbon production in the country, including gas and oil extracted from shale rocks, on June 13, the ministry said in a statement Friday.
On that day the ministry will begin consultations with other ministries, as well as local communities and the affected sector, the ministry said.
In addition to a proposal on how to tax hydrocarbon production, both conventional and unconventional, the draft law will address how municipal governments' can reap benefits from upstream activity in their jurisdictions.
The draft law would also create a National Energy Minerals Operator, to be known as NOKE, to consolidate regulation of extraction of natural gas and oil in Poland, as well as a Hydrocarbon Fund, to invest part of tax revenue in innovation, education, and research and development.
Copyright (c) 2012 Dow Jones & Company, Inc.
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