Probe into US sale of Whiddy Island oil terminal

The Competition Authority is set to probe an agreement to sell the Whiddy Island oil terminal in Bantry, which holds a third of Ireland’s strategic oil reserves, to the US start-up Zenith Energy.

Texan oil firm Phillips 66 operated a crude oil and products terminal in Bantry Bay but has agreed to sell the facility to Zenith Energy, with the deal expected to close before the end of the year.

Last week, the ...