Irish oil firm Petrel Resources targeting new countries to spark revival 

The firm's chairman John Teeling said Ireland is now a “no-go area” for oil and gas development

Petrel Resources chairman John Teeling said the firm's focus “in the immediate future” will be Iraq.

Irish exploration company Petrel Resources is targeting new countries and new asset partners as its founders seek to kick-start its fortunes amid ongoing regulatory hold-ups in key markets.

The company’s latest figures show it slashed its losses last year to €450,685; down from a loss of €1.96m in 2019.