Environmental action could terminate a state-backed oil exploration deal in Norway that provides lucrative taxes, writes Mikael Holter.

British exploration firm Europa Oil and Gas is hopeful of landing a development partner for licences it holds off the Irish coast before the end of the year.

Tullow Oil has continued its non-core asset disposal programme by agreeing the sale of four Dutch -based gas assets for almost €63m.

Shares in Irish exploration firm, Fastnet Oil & Gas jumped nearly 6% yesterday, on the back of it revealing that initial result readings from 3D seismic surveys of its Celtic Sea assets have identified 22 “structures”, or indications of oil.