The government says it's bringing in a new set of rules for companies who want to drill for oil in Manx waters.
This month, Tynwald will be asked to scrap regulations introduced in 1995 that set fees and royalties for oil licences.
The Department of Economic Development says it'll introduce an updated set of rules later this year.
It adds a new round of licenses will be issued in the near future and it'll need the new rules to make sure both companies and the Isle of Man get a fair deal.
How will Island remain attractive during MONEYVAL assessment?
How will the Island stay attractive to businesses while being scrutinized by Europe's anti-money laundering body?
Do you know a company director who deserves an award?
Do you know a company director who deserves recognition?
Festive social event for young professionals this week
Locate Isle of Man is hosting a social event this week.
Fewer businesses now optimistic about future
Fewer local businesses are optimistic about the future compared to last year, according to a new government poll.
Financial regulator recruiting for board members
The Financial Services Authority is looking for new board members.
Businesses needed for seaside kiosk
Port Erin Commissioners say they're looking for people with business ideas to rent a beachside shed.
Businesses who wouldn't recommend IOM almost triples in 8 years
Around 20 percent of local companies say they wouldn't recommend the Island as a place to do business.
M&S officially opens new-look Douglas food hall
Percy Pig and Colin the Caterpillar were on hand this morning to help officially open Marks and Spencer's new food hall.
