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Canada's Irving Oil buys Whitegate refinery in Ireland

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Report summary

On August 3rd Irving Oil announced it had signed an agreement to buy Whitegate refinery in Ireland from Philliips 66. This came as a surprise as although the refinery was for sale it was generally thought it would prove difficult to find a buyer. So what is the rationale for the Canadian oil company buying a small Irish refinery? There are a number of reasons but Wood Mackenzie think there are some synergies between the Irving St. John refinery on Canada's east coast and the small Whitegate refinery in Cork.

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