FRANCE MAY CANCEL SHALE PERMITS UNDER HYDRAULIC FRACTURING BAN

09/06/2011

France may cancel permits for oil and natural gas exploration in October due to the nation's new hydraulic fracturing ban. Companies that have been granted a permit to explore shale hydrocarbons will have until September 13 to inform the government if they're planning to use hydraulic fracturing in the course of their operations. The ban, the world's first, could lead to fines or imprisonment for those found using the technique, though some industry representatives have said that the method is the only one available to extract certain hydrocarbons. Environment Minister Nathalie Kosciusko-Morizet said that, after the September 13 deadline, the ministry would decide the fate of permits within a month. "If a company says it's planning to use hydraulic fracturing, their permit will be canceled. It's the law," she said. She added that the country may face legal challenges from companies that were planning shale probes. For the full story, see http://www.bloomberg.com/news/2011-09-01/france-may-revoke-shale-oil-permits-in-october-minister-says.html.