Optimistic signs but Government holds key to offshore oil success

The Government, more than external issues like Brexit and oil price movement, will ultimately be to blame if Ireland’s much-touted offshore oil and gas exploration sector fails to bear real fruit, writes Geoff Percival

The global economy is growing and oil prices have rallied to a point where companies feel compelled to drill.

Added to that, confidence in what lies beneath Irish waters — amongst explorers — has heightened considerably in the past 12 months.