National Petroleum Corp
The Irish National Petroleum Corporation (INPC) was established, under company law in 1979.
The Whitegate refinery, (Cork) was acquired by the Irish National Petroleum Corporation (INPC) on behalf of the State in 1982 when the refinery's then shareholders (Esso, Texaco, Shell and BP) decided to permanently cease refining at Whitegate.
The Bantry Oil Terminal was acquired by INPC in 1986 when the then owners of the terminal, (Chevron) surrendered the lease over the Whiddy Island Oil Terminal which was inoperable following the Betelgeuse tragedy in 1979.
The State's involvement with the INPC in operational aspects of the oil industry ceased with the sale of the Whitegate oil refinery, the Whiddy Island oil terminal and the INPC associated businesses to the Tosco Corporation on 16 July 2001. Legal provision for this transaction is provided under the Irish National Petroleum Corporation Limited Act, 2001.
Following a series of subsequent mergers the facilities are now in the ownership of ConocoPhillips and continue to operate as an integral part of the Irish oil market.
The INPC has no operational capacity since the disposal of its business and commercial assets (Whitegate refinery; Banty oil terminal) in July 2001.
The company's current activities are limited to:- finalising residual issues arising from the 2001 transaction (primarily enviromental claims lodged against INPC) and meeting the requirements arising from its role as parent company to its remaining subsidiary NORA, which did not form part of the 2001 transaction.
Copies of INPC Group Accounts may be obtained via either (a) the Company Secretary or (b) Oil Supply Division, Department of Communications, Marine and Natural Resources.
Contact:
Sean Fitzgerald
Company Secretary
Irish National Petroleum Corporation
7 Clanwilliam Square
Grand Canal Quay
Dublin 2
Tel: 353 (0)1-67693990
Fax: 353 (0)1-6769399
Email: sean.fitzgerald@oceanfree.net