September 12, 2013 / 3:57 PM / 6 years ago

Phillips 66 says buyers interested in Ireland refinery

HOUSTON, Sept 12 (Reuters) - U.S. independent refiner Phillips 66 has potential buyers interested in its Ireland refinery, Chief Executive Greg Garland told analysts on Thursday.

“We do have people interested in Whitegate,” he said of the 71,000 barrels-per-day (bpd) plant in Cork, during a webcast of his presentation at the Barclays Energy-Power Conference in New York. He declined to elaborate, but analysts had speculated that buyers would be tough to find.

Europe’s refineries have struggled because of overcapacity and they lack the operating cost advantage that cheap natural gas prices gives U.S. refineries.

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