Latest news with #CentralEuropeanPetroleum
Russia Today
8 hours ago
- Business
- Russia Today
German officials attack Polish Baltic Sea oil drilling plan
German officials and environmental groups have hit out at Polish plans to develop a newly discovered oil and gas field in the Baltic Sea, warning of potentially 'catastrophic' damage to local ecosystems, local media reported on Tuesday. Canadian company Central European Petroleum (CEP), which has held exploration rights off Poland's western coast since 2017, announced the discovery of the Wolin East deposit on Monday, describing it as Poland's largest hydrocarbon discovery and one of the biggest in Europe in a decade. The deposit lies 6km off the port of Swinoujscie on the Polish-German border, which divides an island shared by the two countries, known in Germany as Usedom, and is renowned for its holiday resorts. CEP estimates recoverable reserves at over 33 million tons of oil and 27 billion cubic meters of gas, with production potential of more than 400 million barrels of oil equivalent. German officials, however, fear the project will harm local tourism and ecosystems. Mecklenburg-Western Pomerania Environment Minister Till Backhaus told Die Welt the plans run 'counter to the environmental and tourism interests of the German side,' and criticized Poland for not informing Berlin of exploration 'with potentially transboundary environmental impacts' in advance, allegedly in violation of cross-border environmental agreements. Concerns have also been raised about noise, vibrations, and possible damage to marine flora and fauna. In an interview with Bild news outlet, Laura Isabelle Marisken, mayor of the Heringsdorf resort on Usedom, called for clarification from the Polish government and protection from Berlin, stating the area was 'not a place for industrial-political poker games.' Environmental group Lebensraum Vorpommern accused Poland of 'destroying the nature-protected Wolin Baltic Sea coast' and warned of an 'environmental catastrophe.' It said it plans to sue the Polish government. There has so far been no official reaction to the planned extraction from Berlin. Poland considers the discovery a 'breakthrough' that could reduce its reliance on energy imports. Undersecretary of State and Chief Geologist Krzysztof Galos said the deposit may cover 4-5% of annual oil demand, with production starting in 3-4 years, pending permits. The EU has been scrambling to replace Russian energy after supplies dwindled due to Ukraine-related sanctions. Moscow has denounced the restrictions as illegal, warning the bloc will be forced to rely on more expensive alternatives or indirect imports.
Russia Today
14 hours ago
- Business
- Russia Today
German officials attack Polish oil extraction plans in Baltic Sea
German officials and environmental groups have hit out at Polish plans to develop a newly discovered oil and gas field in the Baltic Sea, warning of potentially 'catastrophic' damage to local ecosystems, German media reported on Tuesday. Canadian company Central European Petroleum (CEP), which has held exploration rights off Poland's western coast since 2017, announced the discovery of the Wolin East deposit on Monday, describing it as Poland's largest hydrocarbon discovery and one of the biggest in Europe in a decade. The deposit lies 6km off the Polish port of Swinoujscie near the island of Wolin, close to the German holiday island of Usedom. CEP estimates its recoverable reserves at over 33 million tons of oil and 27 billion cubic meters of gas, with production potential of more than 400 million barrels of oil equivalent. German officials, however, fear the project will harm local tourism and ecosystems. Mecklenburg-Western Pomerania Environment Minister Till Backhaus warned the plans run 'counter to the environmental and tourism interests of the German side,' and criticized Poland for not informing Berlin of exploration 'with potentially transboundary environmental impacts' in advance, allegedly in violation of cross-border environmental agreements. Concerns have also been raised about noise, vibrations, and possible damage to marine flora and fauna. Laura Isabelle Marisken, mayor of the Heringsdorf resort on Usedom, called for clarification from the Polish government and protection from Berlin, stating the area was 'not a place for industrial-political poker games.' Environmental group Lebensraum Vorpommern accused Poland of 'destroying the nature-protected Wolin Baltic Sea coast' and warned of an 'environmental catastrophe.' It said it plans to sue the Polish government. There has so far been no official reaction to the planned extraction from Berlin. Poland considers the discovery a 'breakthrough' that could reduce its reliance on energy imports. Undersecretary of State and Chief Geologist Krzysztof Galos said the deposit may cover 4-5% of annual oil demand, with production starting in 3-4 years, pending permits. The EU has been scrambling to replace Russian energy after supplies dwindled due to Ukraine-related sanctions. Moscow has denounced the restrictions as illegal, warning the bloc will be forced to rely on more expensive alternatives or indirect imports.
Yahoo
a day ago
- Business
- Yahoo
German officials up in arms over oil, gas deposit found in Poland
Local politicians in north-eastern Germany were up in arms on Tuesday, after news broke that a major oil and gas deposit has been discovered in neighbouring Poland, with some experts also cautioning against extraction. The find off the Polish Baltic coast by Canadian company Central European Petroleum (CEP) was hailed as a possible "breakthrough moment" in Poland, but officials across the border in Germany were quick to point out that extracting fossil fuels should not take priority in times of climate change. "Our future does not lie in oil from the Baltic Sea, but in energy from the sun, wind and biomass," said Till Backhaus, environment minister of the coastal state of Mecklenburg-Vorpommern, which borders Poland. "The project stands for a backward-looking industrial policy in terms of climate policy, which is contrary to the interests of the environment and tourism on the German side," he added. Major breakthrough? The Wolin East offshore oil field discovered by CEP is said to be located around 6 kilometres from the port city of Świnoujście on the fringes of north-western Poland. Parts of the city are located on the island of Usedom, which is divided between Germany and Poland. According to the results of test drilling, the recoverable reserves of crude oil and natural gas are estimated at 200 million barrels of oil equivalent. CEP said the Wolin East site is estimated to represent "the largest conventional hydrocarbon field" ever discovered in Poland and "one of the largest conventional oil discoveries in Europe in the past decade." If the deposit is confirmed, this "may prove to be one of the breakthrough moments in the history of hydrocarbon exploration in Poland," said the country's chief national geologist Krzysztof Galos. "The future development of this site may significantly contribute to strengthening Poland's energy security and reducing its dependence on external hydrocarbon suppliers," he told news agency PAP. Mining could begin in three to four years, with the field estimated to be able to cover 4% to 5% of Poland's annual oil demand for several years, according to Galos. CEP has held a licence for exploration off the western Polish coast since 2017. Officials and experts sound alarm Officials in the German part of Usedom were less euphoric, however, with the mayor of the town of Heringsdorf noting the area's status as a nature conservation area. "We are a spa and holiday resort. We do everything we can to keep our beaches, our town and the sea clean," said Laura Isabelle Marisken. "Heavy industrial gas and oil extraction right on our doorstep, it's obvious that this is a massive intrusion into our natural environment." The German Institute for Economic Research also advised against exploiting the oil field, noting not only possible considerable negative consequences for tourism, but also the risk of cross-border pollution caused by an accident. "In addition, the promotion of fossil fuels thwarts climate protection goals," said Claudia Kemfert, head of the institute's Energy, Transport and Environment Department. "The costs and benefits [of the project] are therefore disproportionate."
Canada News.Net
a day ago
- Business
- Canada News.Net
Major oil, gas deposit discovered off Polish Baltic coast
WARSAW, 22nd July, 2025 (WAM) -- The Canadian company Central European Petroleum (CEP) on Monday announced it has made a major oil discovery off the Polish Baltic coast. According to the results of test drilling, the recoverable reserves of crude oil and natural gas are estimated at 200 million barrels of oil equivalent, the company said. CEP said the Wolin East offshore oil field is located around 6 kilometres from the port city of winoujcie, which is in the extreme north-west of Poland on the border with Germany. The company said the Wolin East site is estimated to represent "the largest conventional hydrocarbon field" ever discovered in Poland and "one of the largest conventional oil discoveries in Europe in the past decade." Mining could begin in three to four years. The field could cover 4 percent to 5 percent of Poland's annual oil demand for several years.
Euractiv
2 days ago
- Business
- Euractiv
Poland's largest oil and gas discovery revealed off Baltic coast
CEP Central European Petroleum, the Polish arm of Canadian-founded Central European Petroleum, has announced Poland's largest-ever oil and gas discovery near Świnoujście, a discovery that could sharply boost output and cut heavy reliance on imports. The discovery was made at the Wolin East 1 exploration well, just six kilometers from the Baltic coast. In a statement on Monday, the company said the broader Wolin concession could hold over 33 million tons of oil and 27 billion cubic metres of market-grade natural gas. The deposit is 'the largest conventional hydrocarbon discovery ever made in Poland and one of the largest conventional oil finds in Europe in the last decade,' said CEP CEO Rolf Skaar. In an interview with the Polish Press Agency (PAP), he said the confirmed reserves may rival or even exceed the size of the Barnówko-Mostno-Buszewo field, previously considered Poland's largest. 'BMB holds around 400-500 million barrels of oil, with an estimated recovery of 100 million barrels. We're talking about a deposit of the same scale – if not larger,' he added. Poland currently imports 95% of its crude. CEP estimates the new field could more than double national oil production and increase gas output by 20%. CEP is working with US-based Noble Corporation on drilling operations and is now seeking both Polish and international partners to help develop the site. 'This is a huge opportunity for the national energy sector,' Dariusz Joński, MEP of the ruling Civic Coalition, wrote on X , noting the oil reserves 'amount to as much as 20 times Poland's annual production, and the gas reserves are five times that amount.' Foreign Minister Radosław Sikorski also welcomed the discovery, comparing it to recent national milestones, including Iga Świątek's Wimbledon victory and the country's latest space mission. 'Apparently, God really does love our government,' he wrote on X.
