220 Texoil jobs at risk in restructure

Some 220 jobs are hanging in the balance as Valero aims to restructure its Irish operation Texoil.

Texoil owns 12 sites in Ireland as part of its fuel depot network in Athy, Athlone, Ballinasloe, Cork, Carlow, Dublin, Galway, Gort, Kilkenny, Mayo and Sligo.

A spokesperson for the firm said the difficult trading environment was forcing it to restructure and sell either the whole group or a number of individual outlets.

“Valero can confirm that in order for Texoil Ltd — a subsidiary of Valero Energy (Ireland) Ltd — to remain competitive in what is a challenging Irish fuels market, a restructuring of the business is under way.

“This process will lead to some job losses, but the extent of these is not known at this stage and will depend on the successful sale of some company-owned and operated service stations.

“We are hopeful that a significant number of jobs will be transferred to the new service station owners.

“We believe that by restructuring, Texoil will become a more efficient and competitive provider of fuel services to our customers in Ireland.”

Texoil was founded in 1995 when Texaco was looking to fill gaps in its distribution network.

In 1999, Texoil moved from being a trading division within Texaco, to become a joint venture company between Texaco and Tom Kirrane.

Texoil diversified from solely supplying domestic customers to providing large wholesale distributors and other service stations with fuel.