Companies operating in and targeting Ireland's offshore are seeking clarification after the Irish government said at the UN Climate Action Summit that it intends to phase out future licences for oil exploration.

During a speech in New York, Irish Taoiseach (Prime Minister), Leo Varadkar said Ireland will act on recommendations that exploration for oil should end.

“In the last week, on foot of a request from me, our independent Climate Change Advisory Council recommended that exploration for oil should end, as it is incompatible with a low carbon future,” Varadkar said.