The owner of the Whiddy Island oil terminal in Bantry Bay plans to sell the strategic facility.
The firm that operates the State’s only oil refinery has received a cash injection of $200m (€179.9m).
Agreement has been reached to sell the Whiddy Island oil terminal in Bantry, which holds a third of Ireland’s strategic oil reserves, to the US startup, Zenith Energy.
Tighter gross margins at the company that operates the State’s only oil refinery resulted in the firm recording a pre-tax loss of $34.4m (€26.9m) last year.
WEST Cork-based Global Shares announced yesterday that its client, the INPC ESOP Trustee, has been awarded the IPSA Annual Award for 2007 for its commitment to employee ownership and exemplary management.
WHITEGATE Oil Refinery may be chosen to refine the high quality oil discovered off the south-east coast by Providence Resources.
Fine Gael's Jim Higgins has requested a special meeting of the Public Enterprise committee to discuss the sale of the Irish National Petroleum Company.
The Minister for Public Enterprise Mary O’Rourke is confirming that the sale of the Whitegate Oil Refinery and the Whiddy Island storage facility in Bantry Bay is "almost complete".
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