Phillips considers sale of Irish, Malaysian refining stakes

NEW YORK Thu Dec 13, 2012 1:27pm EST

NEW YORK Dec 13 (Reuters) - Phillips 66, a major oil refiner, will likely look to sell its 71,000 barrel per day Whitegate refinery in Cork, Ireland, and its stake in the 200,000 bpd Melaka refinery in Malaysia, Chief Executive Officer Greg Garland told reporters on Thursday.

Garland said the refining assets are not core to the company's business plans.

Phillips plans to retain stakes in the refineries it owns in the United Kingdom and Central Europe, Garland said at a luncheon.

"We don't envision growing in the Asian refining space," Garland said, adding that Phillips plants in the UK and Germany remain core to the U.S.-based company's operations.