Energy And Food Price WatchIreland

Cork Oil Plant Owner Weighs Selling To Overseas Buyers

Irving Oil is considering selling the Whitegate refinery in Cork Harbour and plans to approach buyers in the coming months.

Thibault Van de Sompele By Thibault Van de Sompele 1 min read

County Cork · Ireland

In Short

  • Owner Irving Oil is reviewing its Whitegate refinery.
  • It reportedly plans to approach international buyers soon.
  • Whitegate processes almost 75,000 barrels of crude oil a day.
  • More than 200 people work there.
  • A local TD says the company promised current projects will continue.

The owners of Ireland's only oil refinery are thinking about selling it. Irving Oil, a Canadian firm, bought Whitegate in Cork Harbour in 2016.

The company briefed staff, officials and local representatives in Cork and Dublin this week. It reportedly plans to speak to international buyers in the coming months.

They assured us that projects and investments tied to Whitegate are continuing as normal.

Noel McCarthy · Fine Gael TD

Whitegate opened in 1959. It processes almost 75,000 barrels of crude a day and employs more than 200 people. Irving Oil said it regularly reviews its portfolio and is proud of its role in energy security.

Fine Gael TD Noel McCarthy said the company told local politicians that investments tied to Whitegate continue as normal.

What Does This Mean For Your Restaurant?

For a restaurant owner, fuel and heating costs depend on supply. A sale does not change prices today, but watch your oil and delivery costs and ask suppliers about fuel surcharges.

Sources

This story summarises the articles below. Read them for the full details.

  1. Irish Examiner · irishexaminer.com
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