With a capacity to process 71,000 barrel per day (bpd) of oil, Phillips’ Whitegate refinery situated near the city of Cork in southern Ireland is the country’s only refinery and caters to about 40% of the nation’s fuel needs, according to Reuters.
The refinery was upgraded to produce low sulfur gasoline and diesel fuels with improved efficiencies to feed US refining and supply system.
The company is also considering selling stakes in its Melaka refinery in Malaysia which has processing capacity of 200,000 bpd.
Phillips 66 chief executive officer and chairman Greg Garland was quoted by the news agency as saying that the company is planning to divest the plants as they are not core to the firm’s business plans.
"We don’t envision growing in the Asian refining space," Garland added.
Garland noted that Phillips plants in Germany and the UK remain core to the US-based refiner’s operations.
