American refiners are facing the prospects of weakening gasoline demand for the first time in five years, stoking fears earnings this year may be worse than the dismal performances seen in 2016.

A strong jobs report has boosted US and European stocks, leaving the Dow Jones industrial average just short of the 18,000 mark.

Shareholders in upstream oil and gas company Petroceltic heard today that its Old Head of Kinsale gas field in the Celtic Sea could be a 'company maker'.

Concerns were today being raised over allegations that the Government put pressure on Mayo Co Council in the creation of a gas field terminal.

The Corrib gas field, some 70km off the Mayo coast, has been formally approved by Enterprise Energy and its partners Statoil and Marathon Petroleum.