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.
PokerStars Isle of Man faces uncertainty over Flutter job cuts
PokerStars' Isle of Man operation could be affected by plans to cut up to 1,400 jobs at parent company Flutter Entertainment.
Businesses invite to sponsor Island Games 2029
The Isle of Man will be hosting a huge sporting event in 2029 - and your business is invited to get involved.
Isle of Man to change sanction rules following UK
The Isle of Man is getting new rules about sanctions, as the UK changes its regulations.
Island company unveils AI voicemail alternative
An Isle of Man technology business has launched a new AI service to help companies handle phone enquiries more efficiently.
Deadline approaches for kiosk lease applications
Have you ever dreamed of having your own beachfront business?
Updated sanction lists across four different countries
The government has released four updated sanction lists covering different countries.
Peel Lifeboat receives generous donation
An Isle of Man lifeboat station has been given a generous donation by a local company.
Beach sauna plans submitted for the south of the Island
Port Erin could be getting a permanent beach sauna, if planners give the green light.
Comments
Add a comment