Providence to make statement on €9m Chinese payment

Providence Resources is expected to clarify the status of a vital €9 million payment that it is due to receive from a Chinese company in the next couple of days. The company has twice extended the deadline for its Chinese partner in the Barryroe field off the Cork coast to provide the cash lifeline.

Providence had set a deadline of Friday evening for the loan from Asia-Pacific Economic Cooperation (Apec) to come through, ...