ISLAND Oil & Gas has said exploration investment will largely be shelved in favour of increasing its gas storage facilities.

ISLAND OIL & GAS PLC appointed Carl Kindinger as the Irish natural-gas producer’s chief financial officer.

ISLAND OIL has sold its Dutch oil assets to Delta Hydrocarbons BV for $25m (€16.1m).

ISLAND OIL & GAS PLC, an Irish oil and natural gas producer, was awarded a five-year licence to explore off the Dutch North Sea coast.