BP is working on an assumption oil prices will average $50 to $55 a barrel next year as global inventories gradually return to normal levels.

Cork-based venture capital firm Kernel Capital is actively pursuing more investments after putting €1.1m into an IT company that assists companies and government departments manage data.

As far as energy is concerned, potential Brexit tariffs and the sterling exchange rate are red herrings. Tariffs — as opposed to transport costs — are no big deal in the oil, gas or electricity exploration and production industries.

Ireland has reached a point where large scale wind- farms are not acceptable to communities, according to Housing Minister Simon Coveney.

Thirty-three people were evacuated from a drilling rig in the Norwegian Sea on Tuesday after a fire broke out in the engine room, oil and gas company Statoil said.

Irish energy firm Solar 21 has accused the Government of dragging its heels on renewable energy policy and costing the country hundreds of jobs in the process.

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.

BP said it could cut capital spending further after reporting an 80% drop in profits in the first quarter of the year, when oil prices touched a near 13-year low.

After impressing with The Pipe, Risteard Ó Domhnaill’s new film focuses on the fishing industry, writes Ellie O’Byrne

With 2015 now officially the hottest year on record, Payal Parekh looks at the Break Free Movement and how vital it is that the world ends its dependence on coal, oil, and gas    

After a deep slide in oil prices, Algeria’s Sonatrach is shifting strategy to offer foreign firms direct negotiations to buy stakes in 20 oil and gas fields in a bid to attract investors and increase output, a source at the state energy company said.

Statoil, Norway’s biggest oil company, deepened investment cuts and offered to pay dividends in stock as it pledged to maintain shareholder payouts even as a collapse in crude prices eroded earnings.

Get a taste of some of the interesting and quirky happenings in Europe from our Europe correspondent, Ann Cahill.

Billionaire businessman Denis O’Brien has struck a deal with Canadian convenience and fuel retailer Couche-Tard to offload his Topaz chain of petrol stations weeks after expanding its network.

For Europe’s biggest oil companies, $60 is the magic number. BP, one of the first companies to predict a prolonged price downturn, has “reset” its business to generate surplus cash flow, with oil at about $60 a barrel by 2017.

Shell Ireland yesterday declared that on-site work is complete for gas to flow from the Corrib gas field.

Shell Ireland has officially applied to the Government for permission to operate the controversial pipeline from the Corrib gas field off the coast of Mayo.

Royal Dutch Shell is to axe 6,500 jobs this year and step up spending cuts, responding to an extended period of lower oil prices which contributed toa 37% drop in the oil and gas group’s second-quarter profits.

There's more gas off the coast of Co Mayo than originally estimated, according to an offshore sub-sea survey in the Corrib gas field.

The results of an offshore sub-sea survey show that there is more gas in the Corrib gas field than originally estimated.

Greenpeace activists have boarded two offshore drilling rigs in a protest against oil and gas exploration in Arctic waters.

Europe Correspondent Ann Cahill looks at a documentary that explores Ireland’s oil and gas resources that claims the Government is being careless with the country’s precious stocks.

Exactly 1,000 years ago this week on the sands of Clontarf, thousands of brave Irish warriors faced off againsed the hordes of Viking invaders that had pillaged, murdered and raped their way up and down this country for so long.

The Corrib Gas partners are now counting the

The Government will decision on the tax regime for oil exploration next year and has admitted that 16,500 barrels of oil were removed off the Connemara coast in 1997.

Tullow Oil discovered its first crude off Norway after at least 10 unsuccessful wells this year.

Despite the bad news today about Providence pulling out of the Dunquin well, we may still have the potential to create thousands of jobs and a secure exports industry based on a commodity that will be in constant demand; a commodity that would make us less dependent on the bond markets and reduce the debt mountain faster than any other method; a commodity that would help us to return to a decent standard of living; a commodity that would make us independent: oil and gas.

Gardaí believe three burglars threw a stolen shotgun, a flatscreen TV, a laptop, and other property out of their car when they panicked and fled after crashing through a routine checkpoint.

Oil-price manipulation may have wrought “huge” damage to consumers, the EU’s anti-trust chief said yesterday as he drew comparisons with EU investigations into the rigging of bank rates.

A man and a woman in their 30s received burns to their arms and faces when petrol was squirted through a letterbox and ignited.

Oil giant BP has warned that millions of dollars of “fictitious” compensation claims for the 2010 Gulf of Mexico oil spill are putting the company at risk.

The vulnerability of crude oil price assessments to fixing is an open secret, writes Robert Campbell.

Three of Europe’s biggest oil explorers are among companies being questioned by European antitrust regulators about potential manipulation of prices in the €2.6tn annual global crude market.

Oil companies will face the full force of the law if they manipulate prices, Britain’s energy minister said as the European Commission demanded that more firms provide information as part of its probe into oil pricing.

Oil companies BP and Shell are being investigated over allegations of price-fixing.

Oil company BP is being investigated over allegations of price-fixing, it emerged tonight.