Saturday January 18, 2020

Could a Chinese injection of €9m save Providence Resources?

Providence Resources is axeing all its technical staff and moving from its HQ to a serviced office, as it desperately awaits a promised €9 million Chinese investment that its survival could depend on

Ian Guider

Markets Editor

11th August, 2019
A rig on the Barryroe oil field, which promised to transform the company from a minnow into a major player Far right: Tony O’Reilly jr Picture: Feargal Ward

In 2013, with the economy still weighed down by troika-imposed austerity, a potential transformative solution was at hand. What if Ireland was able to turn the natural resources located in the deep, dark waters surrounding the country into revenues for the public coffers? It could transform the public finances for a generation to come. In the same way that sleepy old Norway became one of the richest countries on the planet by exploiting its vast...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Last week, the mogul’s many accusers finally got to see the former movie mogul in court on five charges of sex crimes. But if the first two days of the case are anything to go by, his trial will be full of the cliffhangers and theatrics that punctuated the blockbuster films he produced

Marion McKeone | 6 days ago

Masoud Islami also compared assassinated general Qassem Soleimani to Michael Collins, saying both were ‘icons of resistance’

Emmet Ryan | 6 days ago

Dublin is a global sales hub for tech companies such as Google, which has become synonymous with data capture and tax avoidance. But is this really the reputation that the tech giant wants to have?

Aidan Regan | 6 days ago