Oil and gas explorer Barryroe to enter voluntary liquidation after failing to secure licence

Company criticises Minister Eamon Ryan saying Ireland has lost the chance to reduce the emissions associated with importing oil and gas

Barryroe said the country has lost an opportunity to improve Ireland’s energy security. Picture: Finbarr O'Rourke

Barryroe Offshore Energy is to initiate an orderly wind-down of the business through a Creditors Voluntary Liquidation after it failed to secure a licence for further oil and gas explorations drilling off the southern Irish coast.

In an update this morning, the company said it will now prepare a notice to convene an EGM, to be held next month, to seek shareholder approval for the appointment of a liquidator to the company.