- ConocoPhillips (COP +0.5%) says it is quitting shale gas exploration in Poland after failing to reach production-level flows from its gas wells located in the northern part of the country.
- COP was the last major oil company looking for shale gas in Poland, after Chevron's withdrawal at the start of this year; it says it invested ~$220M in Poland since 2009.
- Poland imports ~60% of its gas from Russia and had hoped domestic shale gas production would allow it to break its dependence.