Falcon Oil & Gas, the Dublin-headquartered unconventional exploration firm, has reported a near 64% slashing of first-half losses.

Dublin-based exploration firm PetroNeft Resources has reported a 12% increase in annual revenues, with production levels rising 8% during 2013.

Shareholders in Irish exploration firm, Petroneft Resources, illustrated their support for the company’s management yesterday by overwhelmingly voting in favour of the firm’s recent farm-out agreement and unanimously opposing a hostile takeover approach from another investor.

Dragon Oil is planning to spend $1.5bn (€1.1bn) on infrastructure and drilling activities over the next two years, with the aim to reach a production target of 100,000 barrels of oil per day by late 2015.

Dublin-based exploration firm Petroceltic International has formally agreed the sale of a further tranche in one of its headline assets, the Ain Tsila gas field in Algeria, for a potential $180m (€133m).

Trains and planes were halted across India today by strikes in protest at fuel price rises.

A fire that blazed for three weeks at an oil well in India’s remote north-east has been put out.