Petroceltic hopes for new Italian job

Irish oil exploration company Petroceltic is expecting Mario Monti's new technocratic Italian government to lift a ban on offshore drilling in the Adriatic Sea. Such a move would put cash into Ital

11th December, 2011

Irish oil exploration company Petroceltic is expecting Mario Monti's new technocratic Italian government to lift a ban on offshore drilling in the Adriatic Sea.

Such a move would put cash into Italy's debt-depleted government coffers and also allow Petroceltic to begin drilling in the area by the end of next year, it is understood.

"The arrival of the technical government in Italy means that the Italian offshore drilling ban is probably going to go away,"...

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