David Horgan gives an upbeat assessment of the oil and gas industry in the company’s annual report ahead of next week’s AGM. Will Petrel Resources’ beleaguered shareholders benefit from this “time of exceptional opportunity”?
Providence Resources is in the last-chance saloon. It needs to convince the Minister for the Environment to allow it to drill an appraisal well at its Barryroe Field. To that end, it's changing its name to Barryroe Offshore Energy.
A large volume of shares in the owner of an oil field worth billions off the coast of Cork has just been acquired by one buyer. The seller of these shares has previously sold to Goodman and may have done so again.
Two years ago, a small Dublin oil company was rocked by alleged fraudulent share sales that ruined plans for its majority takeover by Middle-Eastern investors. A deal to close the dispute reveals who won, who lost, and how much.
Controlled by the low-profile businessman Desmond Hurley, the low-profile group controls a network of 32 fuel depots and eight service stations in Leinster, Munster and Connacht. It is now set to buy a €34m Kerry fuel distributor.
OPEC has the ability to raise production levels of oil quite easily, but it seems that political pressure would have to increase massively before this happens. The bottom line is that consumers will have to get used to higher oil prices.
Larry Goodman is a discreet man. He invests quietly, avoids interviews, and most of his businesses are controlled offshore. Now, his holding company has bought a further 2.5% of Providence Resources, which meant he had to disclose his ownership.
For the last year, SpotOn has been in talks with Providence Resources. The deal with the Norwegians is terminated, but they are still shareholders and want to help Providence develop Barryroe.
Following a landmark deal, Providence Resources chief executive Alan Linn discusses the plan’s many moving parts, drilling in a green world, its recent share price fall, and paying a dividend.
The Irish Petroleum Industry Association is dead, long live Fuels for Ireland. The industry body representing oil importers and distributors and Ireland's only refinery has acknowledged that its members won't sustain their businesses into the future by selling fossil fuels.
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