Dáil Éireann Debate, Tuesday - 21 February 2006
170 Mr. Stanton asked the Minister for Communications, Marine and Natural Resources if he has examined the implications of intention by some oil companies to cease business here; if this is likely to have implications for oil and gas exploration; and if he will make a statement on the matter. [6704/06]
Amharc ar fhreagraThe oil industry can be classified in terms of upstream exploration and production, and downstream distribution, including importation, and retail.
In terms of downstream activities, the oil industry in Ireland is fully privatised, liberalised and deregulated. There is free entry to the market subject to normal planning requirements, health and safety regulations, and customs and excise regulations. In this context decisions regarding entry and exit to the Irish market are made by companies based on their own commercial strategies. I have no function in the area. Companies have entered and exited the market over the years and such activities have not impacted adversely to the supply of oil into the Irish market.
Downstream activities in Ireland are undertaken by a combination of Irish affiliates of oil majors, Esso, Statoil, Texaco and ConocoPhillips, six medium sized Irish companies and some smaller Irish companies and independent retailers. With, to date, no indigenous oil, production companies located in Ireland source their oil requirements under commercial contracts with oil producers and refiners located overseas, primarily in the UK and Norway.
The decision by one oil company to sell its petroleum retail interests in Ireland is not expected to have any implications for that, or any other, company's interest in exploration offshore Ireland.
