WAM
22 Jul 2025, 12:51 GMT+10
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.
Get a daily dose of Toronto Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Toronto Telegraph.
More InformationWASHINGTON, D.C.: With the stroke of a pen, President Donald Trump has signed into law the United States' first regulatory framework...
NEW YORK, New York - Earnings took center-stage Monday driving up stock prices, with the Standard and Poor's 500 and Nasdaq Composite...
CAMBRIDGE, Massachusetts: A third patient death linked to gene therapy technology has intensified scrutiny on Sarepta Therapeutics,...
LOS ANGELES, California: The Walt Disney Company has filed a federal lawsuit in Los Angeles against Hong Kong-based Red Earth Group,...
LOS GATOS, California: A blockbuster quarter fueled by global hits like Squid Game has helped Netflix beat second-quarter earnings...
SAN FRANCISCO, California: Amazon has laid off hundreds of employees within its Amazon Web Services (AWS) cloud computing division,...
A chorus of condemnation echoed across the international community on Monday as Britain and more than 20 other countries—including...
WASHINGTON, D.C.: President Donald Trump has unveiled a new strategy to aid Ukraine without directly draining U.S. stockpiles: encourage...
WARSAW, 22nd July, 2025 (WAM) -- The Canadian company Central European Petroleum (CEP) on Monday announced it has made a major oil...
(Photo credit: Eric Hartline-Imagn Images) A check swing by Edmundo Sosa resulted in catcher's interference with the bases loaded,...
(Photo credit: Susan Mullane-Imagn Images) Poland's Magdalena Frech and Magda Linette, the only two seeded players in action on Monday,...
(Photo credit: Nick Turchiaro-Imagn Images) Kevin Gausman pitched seven strong innings, Bo Bichette hit a two-run double and the...
