Corrib gas field operator paid €529m dividends to Shell and Nephin Energy
Vermilion Exploration and Production Ireland made the payments to the former owners in 2018 when it bought Shell’s interest in the licence
New accounts from the operator of the Corrib gas field show the company paid a total of €529 million in dividends to former owner Shell and to Nephin Energy in 2018.
The newly-published financial statements from Vermilion Exploration and Production Ireland detail dividend payments totalling €528,769,418 in the period ending December 2018.
The operator of the Corrib field now owns a 20 per cent interest in the Corrib licence through two separate companies, having bought Shell’s interest...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Shannon LNG in new planning application for €650m gas terminal
The move comes after a decision by An Bord Pleanála to designate the US company’s Co Kerry project as a strategic infrastructure development
Renewables sector warns court ruling could scupper green energy at critical juncture
Industry sources said the nature of certain projects meant it was not possible to determine the exact dimensions of certain infrastructure, such as turbine heights or blade lengths, ahead of receiving planning permission.
Pat Rabitte: If Leo Varadkar is right and the economy takes off ‘like a rocket’ we are at risk of an energy crisis
We need to mitigate the climate crisis but that cannot mean leaving Ireland without a secure source of energy
‘A successful cyber-attack could cause blackout-type scenarios’
Increased use of ‘smart’ tech and renewable resources means electricity systems are increasingly vulnerable to cyber attacks