Polish Oil and Gas Company (PGNiG) has announced that the results of preliminary work aimed at proving unconventional gas reserves in the Markwola well in Lublin Province in eastern Poland will be announced in the end of September. Aurelian Oil&Gas expects the first results of their drills by the end of this year, wnp.pl reports.

A cut back of investments in new coal-fuelled power plants can be currently observed across Europe, however 2011 should see a recovery in this sector, Matthias Jochem Ph.D., VP of Hitachi Power Europe tells wnp.pl.

According to recent statistics published by the Federation of European Securities Exchanges (FESE) after the end of H1 2010, the distance between the WSE and other CEE and South European exchanges is growing, the Warsaw Stock Exchange informed in a communiqué.

In two surveys ‘Puls Biznesu’ picked out debt free and the most indebted companies quoted at the Warsaw Stock Exchange.

Manuli Hydraulics Manufacturing has become the next investor in the Łódź Special Economic Zone. The company will construct a new plant in the Radomsko sub zone of the Łódź SEZ where at least 150 people will find employment.

According to the latest economy cycle study prepared by the National Bank of Poland, the condition of companies improved in the 2nd quarter; however, many companies still delay starting new investments.

Exhibition of innovations

The 18th International Defence Industry Exhibition (MSPO), the most important military exhibition in Central and Eastern Europe and the third largest military exhibition in the Old Continent, will be held in the south-eastern city of Kielce from Sept. 6 to 9, 2010. The event is of special importance for the Polish industry.

Robert Soszyński, President of the “Przyjaźń” Oil Pipeline Operation Company (PERN Przyjaźń SA, PERN) tells “Polish Market’s” Jerzy Bojanowicz about plans to build a central-European logistics centre for liquid fuels.

According to information released by the Polish News Agency (PAP), Polish Finance Minister Jacek Rostowski is suggesting to get to a safe level of budget deficit in small and safe steps, Polish Market chief economist Jan Sosna writes. Such moves as the proposed VAT increase are able to reduce the deficit by merely 0.5% GDP. Thus, in order to achieve the desired result, an entire package (i.e. 5-10) of similar projects should be introduced.