Oil is at the core of societal and economic well-being and will remain so in the medium term until such time as we develop alternatives. The downstream oil market in Ireland is fully privatised, liberalised and deregulated.
Ireland has no domestic oil production and therefore is 100% dependent on oil imports. To-date Ireland has not had any declared commercial oil finds. For information on oil/gas exploration in Ireland.
This Department is working to ensure that the Irish oil market and associated infrastructure underpin security of supply by reducing our dependency on oil and preparing contingency plans in the event of energy supply disruptions.