The Government has said there is no need to readdress last year’s altered fiscal terms for exploration firms active in Irish waters, despite this year’s dramatic drop in oil prices.

The main representative body for Irish oil and gas exploration firms wants to see more incentives for marginal field operators, as well as a lowering of the corporate tax rate for such companies, included in the Finance Bill later in the year.

The Government has launched its first offshore licensing round for three years, adding that its revised fiscal terms for incoming operators should encourage new investment in Irish waters.

An English-based energy firm yesterday confirmed that it has lodged an application with the Irish Government to carry out fracking exploration in west Clare.

The mood music around Irish offshore exploration is as positive as it has been since the early 1980s writes Kyran Fitzgerald, but John Teeling, of Petrel Resources, says it is ‘too early to be counting eggs’

OLYMPIC Council of Ireland Chief Executive Stephen Martin has described Irish performances at the Vancouver Games as ‘a success.’

Ireland's Pat Shannon has come in 27th at the half-way stage in the men’s skeleton competition in Whistler last night.

IRELAND’S Chef de Mission, Siobhan Hoey has expressed concern over the venue for bobsleigh, luge and skeleton events at the Winter Olympics in Vancouver.

The women’s bobsleigh team of Aoife Hoey and Claire Bergin were among the athletes named today by the Olympic Council of Ireland to represent Ireland at next month’s Winter Olympics in Vancouver.