Earlier this month, Providence Resources announced that an oil field at Barryroe, off the coast of Cork, is expected to yield 280 million barrels. The company’s CEO, Tony O’Reilly Jr, the son of the media mogul, told the Today programme that this was ‘very good news for Providence shareholders and the Irish economy’. The first part of […]
Sceptics say oil find will not mean boom for Irish economy
IRELAND’S devastated economy received a boost yesterday with the announcement that an offshore field at Barryroe, 30 miles off the coast of County Cork, could yield up to 280 million barrels of oil. Providence Resources, an Irish and UK company that has been drilling at six locations off the coast of Ireland, said Barryroe will […]