Whiddy oil terminal sold to US company

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.

The terminal is owned by Phillips 66, which bought it from Tosco Corporation. The facility was sold by the State to Tosco in 2001.

At the time of the 2001 sale, an agreement was reached to operate the refinery and the terminal for at least 15 years on a purely commercial basis while maintaining existing jobs and conditions of employment.