Whitegate oil refinery revenues surge on the back of soaring oil prices

Owner Irving Oil posts pre-tax loss after booking asset impairment losses

The Irving Oil Whitegate Refinery is Ireland’s only refinery. Picture: Eddie O'Hare

Pre-tax losses at the firm which operates the Whitegate oil refinery in Cork last year increased eight-fold to $88.14m (€83.92m).

The Irving Oil operated refinery recorded the increased losses despite revenues increasing by 83pc from $1.15bn to $2.1bn on the back of soaring oil prices.