Chevron withdraws from shale exploration in Lithuania
Chevron has announced that if would focus on this licence, due to the changing regulatory and legislative landscape over shale in Lithuania. Indeed, the Baltic country is considering new environmental approval procedures and tax increases on shale hydrocarbons (up to 40% on income).
Lithuanian government will review its legal framework and will discuss whether to call a new tender for exploration of shale gas and oil.
Source: www.enerdata.net 10 October 213