Phillips 66 pulling out of sale of Irish refinery

|About: Phillips 66 (PSX)|By:, SA News Editor

Phillips 66 (PSX +0.2%) is pulling out of the sale of its Whitegate refinery in Ireland after receiving limited interest since putting it on the block last year, CEO Greg Garland said yesterday.

Garland said last September that potential buyers were interested in the 71K bbl/day plant - the only refinery operating in Ireland - but said on Sunday that PSX told the Irish government it had ended the sales process.

PSX plans to continue with the sale of a nearby refined products storage terminal, and says it is committed to running Whitegate until mid-2016.