Tullow Oil paid a net $209m (€183m) to various governments in Africa and Europe last year by means of taxes, royalties, production entitlements, licence fees and infrastructure improvements.

Irish exploration firm PetroNeft Resources has reported an 8% reduction in full-year losses and said that pending drilling activity could show a material rise in reserves at its flagship asset in Siberia.

Irish explorer PetroNeft Resources has struck a deal that ensures an activist shareholder cannot vote against the board at any general meeting for two years.

Activist investor Natlata Partners has reiterated its call for an overhaul of Irish exploration firm PetroNeft Resources’ board of directors.

Latest drilling at the flagship Algerian asset of troubled Irish exploration firm Petroceltic has indicated further potentially significant gas reserves.

Strong results from recent drilling activity has boosted PetroNeft Resources’ current production rate by 20%; with the Irish explorer also suggesting one of its key fields is likely to be larger than initially thought.

Irish exploration firm, PetroNeft Resources has reported a full-year, pre-tax loss of just under $8.4m (€7.5m) for 2014, down by around 27% on the previous year’s $11.5m total.

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.

Irish exploration company Petroneft Resources is close to concluding a farm-out of one of its main assets in Russia, with the transaction expected to be finalised before the end of March.

Irish explorer Petroneft Resources has said that progress on its refinancing and farm-out plans has proved slower than expected, but that work is continuing on both fronts.

Petroneft Resources has said it hopes to be in a position to update its shareholders on its refinancing plans in the coming weeks.

Petroneft Resources — the Irish explorer with a specific operational focus on Siberia — is planning to re-commence drilling activity “later this year“, depending on successful outcomes of current debt re-financing talks and farm-out discussions.

Among a sea of red yesterday, the Iseq was the only European bourse in positive territory, up almost 1.5% driven by Irish financial stocks, except AIB, which powered ahead in light trade.

Petroneft Resources — the Irish exploration company with a focus on the Russian market — has successfully raised $17.25m (€13.3m) via a share placing with institutional and other investors.

The oil firm PetroNeft Resources has provided an update of its operations in Russia which show that one of its wells has a flow rate of 540 barrels of oil per day (bopd).

Connemara Mining — the AIM-listed mineral exploration firm chaired by businessman John Teeling — has revealed that it recently received an expression of interest in its minority stakeholding in the highly-rated Stonepark zinc and lead discovery in Co Limerick.

Irish exploration company Petroneft Resources has entered talks with interested parties regarding the farm-out of an equity stake in one of its producing licences in the Russian region of Tomsk.

London-based exploration company Europa Oil & Gas has said that it has identified two large, previously unknown, prospects off the west coast of Ireland.

Providence Resources has suspended drilling at one of the development wells at its Singleton onshore oil field in England.

European markets experienced a small bounce to recover some of the ground lost during the previous session.

Data detailing unexpected falls in production levels across the eurozone’s services and manufacturing sectors in February pulled European markets down for a second consecutive day yesterday.

Irish shares fell yesterday in line with other European bourses, having gained on Monday in anticipation of agreement on the second Greek bailout package.

Improving prospects of Greece getting its second bailout, thus keeping the euro zone intact for the time being, boosted international stock markets yesterday.

Shares in Irish exploration company Petroneft fell nearly 40% yesterday on the back of the firm reporting a significantly lower than expected production rate.

THE ISEQ was one of 12 of the 18 national benchmark indexes to decline yesterday, falling 0.45% to 2,852.48.

PROVIDENCE Resources has announced the middle of November as the expected formal start date for its long-anticipated drilling programme off the coast.

INTERNATIONAL stock markets enjoyed a rare consecutive day’s rise yesterday as optimism surrounding positive solutions to the eurozone debt crisis being found gathered momentum.

OPTIMISM amongst investors over some kind of solution being found by policymakers to stem the debt crisis in the eurozone saw gains on most international markets yesterday.

PETRONEFT has reported its first pre-tax profit, adding that recent exploration success could boost group reserves by at least 50%.

The ISEQ index of Irish shares closed down 87.21 points to 2,434.08, a loss of 3.46%.

A GROWING concern that the eurozone debt crisis hasn’t been sufficiently dealt with plunged international stock markets into further freefall yesterday evening — with nearly £50 billion (€58bn) being wiped off the value of London-quoted shares and Dublin’s ISEQ hitting a two-year low, as Irish shares lost €1bn in value.

IRISH exploration company, Petroneft has announced its largest single oil find to date — which could net 30 million barrels of oil in total — via the discovery of a field at one of its existing licences in Russia.

IRISH exploration company, Petroneft is targeting an $8 million (almost €5.6m) boost to its operating profits in 2012 alone, on the back of the widely anticipated reduction in mineral extraction tax (MET) being signed into law in Russia.

THE ISEQ index of Irish shares climbed back past the 3,000 point mark yesterday for the first time in nearly two months.

The ISEQ index of Irish shares closed up 21.36 points to 3,015.54, a rise of 0.71%.

CONNEMARA Mining — the Irish AIM-listed zinc explorer — is set to announce a joint venture partnership, with an as yet unnamed company, to further develop its Lough Sheelin asset block, in the coming week.

IRISH exploration company, Petroneft has reported a full-year loss for 2010 of $7.12 million (just under €5m); up on the previous year’s loss of $6.5m.

Irish oil and gas exploration and production company Petroneft has today announced a 36.8% increase in assessed reserves.

THE ISEQ fell by nearly 1.2% yesterday on a day of further uncertainty over the restructuring of the country’s banks, further rises in bond yields and continued weakness in the euro.

IRISH oil and gas exploration company, Petroneft, has raised $43 million (€31.2m), via its second successful share placing in a little over 12 months.