French president Francois Hollande has ruled out overturning the country's ban on hydraulic fracturing, or fracking, during his five-year term of office, which ends in 2017. The president's remarks were made during a television interview on Bastille Day, France's national holiday, on July 14. The ban has been in place since 2011.

Hollande's remarks came only days before the country's highest court was due to begin hearing a challenge to the ban brought by Schuepbach Energy of Dallas, Texas; www.schuepbachenergy.com). The company owned by a former U.S. oil executive and private equity funds was left holding two fracking permits it was unable to use when the ban was pronounced. "As long as I am president, there will be no exploration for shale gas in France," Hollande affirmed.

The International Energy Agency (IEA) believes that France has some of Europe's biggest shale gas deposits. (dw)