SF: Govt must reap tax benefits from oil and gas

Sinn Féin are calling on the Government to make radical changes to revenue and licensing terms governing oil and gas exploration.

The party said that Ireland should adopt measures like other those in other countries, which would see the Government reap 51%of the profits from successful exploration.

There is an estimated €700bn worth of natural gas and oil off the Irish coast.

Sinn Féin deputy for Dublin South Central Aengus O'Snodaigh said it isn't fair that foreign companies enjoy an unfair advantage.