IOR and DNO, both Berg Larsen companies have oil interests all over the world and one of their biggest and soon to become very lucrative is the Tawke field in Kurdistan.
As the cost to extract oil from land based fields is much lower than ocean based finds the multi-national oil companies are all heading there and will pay top dollar to acquire production rights in Kurdistan. DNO are likely to be a target as they hold rights there.
DNO and Hodcroft just got bored with owning Pools given they weren't able to purchase the ground they didn't want to invest any more money in the club.
It wouldn't surprise me to see Larsen acquire another football club at some point. They are going to be cash rich at some point in the not too distant future.

http://www.bbc.co.uk/news/business-30531829. Probably closer to the truth ..

I thought IOR and DNO had distanced themselves as well hence the removal of them as club sponsors...

I dont believe any norwegians have been involved at Pools for ages.

Larsen ended involvement with IOR in 2011

Working in the industry a lot of the larger companies are divesting a lot of there business to survive and have the asset base to do so, the smaller companies such as IOR must be hanging on by the skins of their teeth to be honest and the BBC article above is pretty bang on with the current status of the sector.

There is a lot of misinformation about the oil industry, and even more smoke and mirrors.

Its a cash rich environment. Dont believe all they say. Infact I wouldnt trust them as far as I can throw them.

Yet he was at a game this season!

My suspicion for a few years is IOR no longer have the cash they used to the news that they've be looking for new investment for two years doesn't come as a surprise. The club has almost been ran in recovery mode during that period.

Agreed, the big boys will probably be manipulating the prices at the moment so they can acquire smaller firms and become even bigger

It's all a ruse to get more tax relief.. As sure as shit they'll not be complaining when the prices go back up..

And how come this price crash hasn't filter through to our gas/ electric bills?

It's filtered through to the petrol pumps to be fair.

Yes it has but the greedy utility companies are not lowering their prices .. Oil price was the excuse for the increases to be fair..

If utility companies and even producers had sense they would have locked in a decent % of their price risk anyway, doesn't stop them spinning the line when prices go up they have to pass it on of course !

I can't believe all the sympathy the media is offering the oil companies. Cheaper fuel means people and businesses have more money to spend (therefore boosting the economy), yet we're meant to shed a tear for the feckers who've been rinsing us for years.

Hard on the foot soldiers who work in the industry, but miners, shipbuilders, steelworkers and others all had the boot stuck in without mercy, and they seek to fall into that category for the twats at the top.

Agreed