Bula Resources has appointed a former Shell executive as chief executive officer. Mr Tom Kelly has been working as a consultant to the troubled company for two months since leaving the international oil company last year.

Mr Albert Reynolds, the chairman of Bula, also announced the appointment of Mr Patrick Gillen, a chartered accountant and management consultant, as non-executive director. Mr Kelly replaces Mr John Hogan, who left in January after six months with the company saying he was unable to work with Mr Reynolds. The former Taoiseach took the role of executive chairman on Mr Hogan's departure. A non-executive director - Mr Eonuh Rhee - also resigned in January. His departure - and Mr Hogan's - came two weeks after the company was forced by the Irish Stock Exchange to issue a statement clarifying its activities in Libya. The National Oil Corporation of Libya had accused the company of giving a misleading impression about the extent of its negotiations in the north African state.

Mr Kelly is a graduate of University College Dublin and University College Galway. He joined Shell in 1976 as a geophysicist and worked for the oil multinational for 24 years, lastly with the New Business Development Group in the Hague, before leaving the firm last year.