Irving Oil Welcomes Whitegate to the Team

Source Press Release
Company Irving OilPhillips 66 
Tags Asset Deals, Deals, Refinery Project
Date September 09, 2016

Irving Oil announced today the successful close of its purchase and sale agreement with Houston-based energy, manufacturing and logistics company,  Phillips 66 (NYSE: PSX), to acquire the Whitegate refinery located near Cork, Ireland. The agreement was announced by  Irving Oil on August 3 with an expectation that the transaction would close by the end of the third quarter once all conditions of the sale were met.

With the transaction finalized, Irving Oil has assumed full ownership of the refinery and will continue full operation of the facility, including maintaining its existing workforce.

"Whitegate is a great facility, and is a good fit for our company," says Arthur Irving, Chairman of Irving Oil. “We are happy to welcome the Whitegate team to Irving Oil and we are looking forward to working together."

As the country’s sole refinery the Irving Oil Whitegate Refinery will continue to provide a secure and reliable supply to its existing customer base.

“This is a historic day for our company. We’re thrilled to welcome new members to the Irving Oil team, serve new customers and grow our business across the Atlantic,” says Ian Whitcomb, President of  Irving Oil. “The Irving Oil Whitegate Refinery has a long-established positive work environment and strong safety culture, and we will continue to uphold these values while offering our customers in Ireland an exceptional service experience.

"We will work hard to ensure that existing relationships with customers and the community remain strong, and we look forward to establishing new relationships," says Sarah Irving, Executive Vice President of Irving Oil. "It is an exciting time for our company and we welcome the team at Whitegate to Irving Oil."

“We are excited to add another refinery to our company. As with our Saint John refinery, safety is always our number one priority,” says Mark Sherman, Vice President and Chief Operating Officer of Irving Oil. “With this at the forefront, this refinery will continue as a reliable supplier, a sound operator and a secure employer.”

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd