Passenger numbers at Kerry Airport grew by 9 per cent in 2018, according to the airport’s annual report and accounts released today.

The industry group for offshore drilling firms is warning against moves to ban oil and gas exploration, as an exploratory drilling rig prepares to move into position in the Porcupine Basin off Kerry within days.

More than a third of oil and gas exploration companies active in Irish waters are finding it difficult to source partners to develop their licences here.

Europa Oil and Gas has ruled out any prospect of drilling in Irish waters next year, but has said it is making significant progress towards drilling activity in 2020, including on its flagship gas project adjacent to the Corrib field off the west coast.

Providence Resources has hit a second major setback in the Porcupine Basin after summer drilling at the Drombeg well 220km off shore failed to hit oil and has been abandoned. The shares, which had one stage plunged by a third, ended the session 16.5% lower.

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.

Shares in  plunged by as much as 40% yesterday, wiping around €41m from its market value, after the Irish explorer reported disappointing initial results from its highly-anticipated return to drilling off the west coast of the country.

Irish oil and gas exploration company Petrel Resources said it has “sufficient” funds to cover activities for the “near future” despite seeing losses widen by nearly 13% over the past 12 months.

It was a lucky week for fishermen as rare creatures of the deep were caught off the Kerry and Clare coast.

Shares in British exploration company Europa Oil and Gas jumped by as much as 12% yesterday on news that it is sitting on nearly 1bn more barrels of oil in Irish waters than was previously projected.

Shares in British explorer Europa Oil and Gas climbed 6% yesterday on the back of the company effectively doubling the reserve estimate at one of its chief prospects off the west coast of Ireland.

Shares in Providence Resources jumped more than 7% yesterday on the back of the Dublin-based explorer reporting a near €4m narrowing of annual losses.

Irish explorer Providence Resources looks to be close to a deal with a rig contractor as it continues to ready itself for a return to drilling in Irish waters next year.

Providence Resources is eyeing a start date of next June for drilling at its Druid oil prospect in the Porcupine Basin off the south-west coast.

British exploration company Europa Oil and Gas has started the search for a partner company to help develop one of its “riskier” assets in Irish waters.

Scottish exploration company Cairn Energy has said it does not view its offshore Irish interests as priority assets, but remains committed to exploring here.

A number of so-called ‘super-majors’ — a term typically used to describe the biggest eight, or so, oil companies in the world — have shown interest in offshore assets held by freshly financed Irish explorer Providence Resources, its chief executive said yesterday.

Two exploration firms have formally been granted full ownership status by the Department of Natural Resources of Irish assets they previously co-owned with US explorer Kosmos Energy, which pulled out of Ireland in order to focus on its African assets last year.

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.

A number of exploration firms are lining up to buy newly available seismic data on key offshore basins ahead of September’s deadline for applications in the Government’s latest licensing round.

Europa Oil and Gas is set to raise around £3.4m (€4.8m) via a share placing and open offer, with proceeds partially being earmarked to fund its activities in Irish waters.

US explorer Kosmos Energy is set to attract fresh investment to its two Irish-based licences, via a farm-out process, later this year. 

UK exploration firm, Europa Oil and Gas has confirmed it will seek to increase its Irish acreage by bidding for more prospects in this year’s Atlantic Margin licensing round.

British exploration firm Europa Oil and Gas is to focus on adding prospects in Irish waters as part of its expansion, its management stated yesterday.

Two Irish exploration firms — Clontarf Energy and Petrel Resources — have reached agreement with the authorities in Ghana over a long-running dispute concerning lost licence acreage in the west African country.

Exploration drilling will not be undertaken in Irish waters this year, with the only previously anticipated activity being put on hold due to a lack of rig availability.

One domestic-based exploration firm has openly criticised the Government for its new tax rates for oil finds in Irish waters, just a week after they were unveiled.

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.

Ireland’s oil potential may “hold some intrigue” but exploration carries “real risk”, according to a BP executive.

Ireland’s oil potential may "hold some intrigue" but exploration carries "real risk", according to a BP executive.

Scottish exploration firm Cairn Energy has suspended a $300m (€216m) share buyback programme, in which it has invested $95m.

Canadian exploration company Antrim Energy — which has assets in Irish waters — is reviewing its options, admitting “significant doubts” exist regarding the firm’s chances of survival.

Irish explorer Petrel Resources said it expects operational activity to speed up in the coming months.

Oil giant ExxonMobil has said it has no intention of pulling out of Irish waters, despite disappointing early drilling results from the highly-anticipated Dunquin prospect off the Kerry coast — in which it is a senior partner — last month.

The first well to be drilled at the highly anticipated Dunquin oil and gas prospect off the Kerry coast has been abandoned, sending shares in the field’s Irish stakeholder — Providence Resources — plummeting by nearly 10%.

Texan exploration company Kosmos Energy has commenced 3D seismic surveys on the two prospects off the Co Kerry coast in which it bought controlling stakes earlier this year.

Cairn Energy is to press on with its intentions to begin drilling off the west coast during the second quarter of next year, now that it has received formal Government approval for its plans.

Scottish exploration company Cairn Energy has added Ireland to its international regional portfolio; buying into two licences in the Porcupine Basin, off the west coast.

Drilling activity has formally started at the Dunquin exploration prospect off the Kerry coast.

Oil exploration drilling programmes off the Irish coast are expected to increase materially in the coming years, according to Davy Stockbrokers, who view the entry of Kosmos Energy as a potential game changer in Irish oil exploration.

US company Kosmos Energy has become the latest international exploration firm to show an interest in Ireland’s burgeoning offshore oil and gas potential, snapping up controlling stakes in two prospects off the Kerry coast.

ExxonMobil is gearing up to finally begin drilling off the coast at the highly-anticipated Dunquin prospect, with the rig arriving in Cork late last week for preparation.

Global energy giant Exxon Mobil is due to start a $140m (€108m) exploratory drilling programme for gas and oil off the south- west coast.