The US-based downstream company said the refineries in the countries are small and do not offer growth opportunity for the company.
Phillips 66 Refining, Projects & Procurement executive vice president Lawrence (Larry) M. Ziemba was quoted by The Irish Times as saying that the refineries are small.
"If we have got the right price for them, they are really not strategic," Ziemba added.
Phillips 66 is planning to sell its Whitegate refinery in Cork, Ireland, Mineraloelraffinerie Oberrhein refinery in Germany and PSR-2 refinery in Melaka, Malaysia.
The Whitegate refinery processes 71,000 barrels per day (bpd) of oil and serves about 40% of the country’s fuel needs.
Phillips 66 is planning to sell its share of 47% in the PSR-2 refinery in Melaka, Malaysia. The 100,000 bpd PSR-2 plant is a joint venture between Phillips 66 along with Malaysian state oil company, Petronas.
The Mineraloelraffinerie Oberrhein refinery in Germany is a joint venture with Shell, ExxonMobil and Ruhr Oel. Phillips 66 intends to sell its 18.75% interest in the facility, which is located on the Rhine River in Karlsruhe and processes crude oil.
