May 21, 2016 / 6:25 PM / 4 years ago

Phillips 66 in final stages of selling Ireland's only oil refinery - sources

LONDON, May 21 (Reuters) - U.S. independent refiner Phillips 66 is in the final stages of selling the only oil refinery in Ireland, a source familiar with negotiations said on Saturday.

Responding to a report on the Irish Examiner website, which said an agreement to sell the Whitegate refinery would be reached within the coming weeks, the source said a deal was “in the offing”.

The Examiner said ArcLight Capital, Irving Oil, UK-based PTFPlusOne and Valero Energy were in the running, and that Irving Oil were the frontrunners.

It was unclear whether the potential buyers intended to keep the plant open or close it and use it for storage only. (Reporting by Simon Falush, writing by Andy Bruce; Editing by Kevin Liffey)

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