(MENAFN) US energy firm Chevron Corp said it will halt exploring shale gas in Poland, a sector that has failed to live up to early promise of transforming eastern Europe's energy supplies, The Peninsula Qatar reported.
The company said its Polish unit has decided to discontinue shale gas operations in Poland as the opportunities here no longer compete favorably with other opportunities in Chevron's global portfolio.
Other oil exploration companies, including US Exxon Mobil, French Total and Texas-based Marathon Oil have also stopped shale gas exploration in Poland over the past three years.
Meanwhile, oil prices rallied last week, following the sharpest weekly drop in US oil rig count in nearly 30 years, while the dollar index ended January with its longest run of gains since 1971.
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