Irish oil and gas industry a ‘sorry scene’, says Teeling

Irish oil and gas industry a ‘sorry scene’, says Teeling

Corrib pipeline protests, increased petroleum taxes, a political campaign against oil and gas and challenges to drilling permits have all made Irish offshore oil and gas a “sorry scene” for business, according to John Teeling of Petrel Resources.

Teeling made the statement upon publication of the Petrel Resources plc preliminary results for 2018. Annual losses were €239,042, down substantially from 2017 losses of €4.4 million. Teeling said that oil and gas exploration was a high-risk...

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