State’s only oil refinery put up for sale

The future of Ireland’s only oil refinery, Whitegate in East Cork, is in jeopardy after being put up for sale by its owners, who are also selling the massive oil storage terminal in Bantry Bay.

Phillips 66 has appointed Deutsche Bank to handle the sale of the strategic assets at Whitegate and Bantry, in West Cork, with a target to complete the sale by the end of the year.

The company’s US-based spokesman Rich Johnson said: “Phillips 66 intends to continue operating the assets as usual during the marketing process, which is expected to last for several months.”