Up to 50 sailors are sleeping onboard ships during their time off, because they can't afford soaring rents and there is not enough proper accommodation at the naval base in Cork.

Tullow Oil this morning announced that its Gharabi-1 well, located in Block 6 offshore Mauritania, was unsuccessful and has been plugged and abandoned.

PETREL RESOURCES, the Dublin-headquartered oil exploration company, has signed a framework case study agreement with the Iraqi Ministry of Oil concerning the Merjan Oil Field area of the troubled country.