News Post
Irving Oil confirms agreement in place to acquire Whitegate refinery in Ireland
Whitegate is Ireland’s sole refinery. It processes light, low-sulfur crude. Photo courtesy of Phillips 66.
Canadian-owned Irving Oil reached an agreement with Phillips 66 to acquire its Whitegate refinery located near Cork, Ireland. The Whitegate facility is Ireland’s sole refinery, processing up to 75 Mbpd of crude oil, producing transportation and heating fuels such as gasoline, diesel and kerosene. Built in 1959, it has a workforce of 160 employees, not including contract personnel.
The acquisition will enable Irving Oil to expand its business across the Atlantic basin to gain valued customers in Ireland, in addition to securing optionality for its business.
The transaction is expected to close by the end of Q3, once all conditions of the sale have been met. Upon closing, Irving Oil will assume full ownership of the refinery and continue full operation of the facility, including maintaining its existing workforce.
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