U.S. independent refiner Phillips 66 has pulled the sale of its Irish refinery after receiving limited interest since putting it on the block last year, Chief Executive Greg Garland was quoted as saying on Sunday.Garland said last September that possible buyers were interested in the 71,000 barrels-per-day (bpd) Whitegate plant - the only refinery operating in the country - but said on Sunday that Phillips had told the Irish government that it had "laid down" the sales process."In Whitegate, we gave it a good try. We had the asset on the market for more than a year and I would say we've got limited to negative interest in that facility," Garland was quoted as saying in the Sunday Independent newspaper.Garland said that the company would continue with the sale of a nearby refined products storage terminal, adding that it was committed to running the Whitegate refinery in the southern county of Cork until mid-2016.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. Shares of PSX traded higher by 0.08% or $0.06/share to $76.75. In the past year, the shares have traded as low as $54.80 and as high as $81.43. On average, 3574100 shares of PSX exchange hands on a given day and today's volume is recorded at 5550335.
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