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Whitegate, Ireland's only oil refinery, up for sale again

LONDON (Reuters) - Phillips 66 (PSX.N) has put Ireland's Whitegate refinery up for sale, the company said on Tuesday, more than a year after taking the country's only refinery plant off the market having failed to find a buyer.

The U.S. oil refiner tried to sell the plant near Cork last year amid low refining margins, but failed to attract strong enough bids.

“Phillips 66 has decided to seek a buyer for its 71,000 barrel-per-day Whitegate Refinery and associated wholesale marketing business in Ireland," Dennis Nuss, director of media and external relations, said.

"We will run a rigorous process to find the best purchaser for the business. We expect this process to last into 2016."

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Refining margins have improved this year as demand has picked up and the cost of crude oil has fallen.

"We’ve seen a stronger margin in the Atlantic Basin this year and Whitegate has been performing well in this environment,” a Phillips 66 spokesman was quoted as saying by the Irish Examiner.

(Reporting by Simon Falush; Editing by Greg Mahlich)