The Irish National Petroleum Corporation (INPC) is a semi-defunct Irish State-owned company which owned and operated the Whiddy Island Terminal on Whiddy Island and Whitegate Oil Refinery at Whitegate, both in County Cork, Ireland. It was founded in 1979 and was involved in acquiring oil, refining it, and distributing petroleum products to consumers in Ireland. [1] Its main assets were sold to TOSCO Corp (later Phillips Petroleum) in 2001.
As of 2020 [update] , the INPC has no staff, but has an active three-person board who manage a portion of the proceeds from the 2001 sale which was set aside for ongoing liabilities and claims. [2] [3]
The Whitegate Oil Refinery, built in 1959, was threatened to be closed by its private owners in the early 1980s. [4] To avoid closure of Ireland's only refinery, and become completely reliant on foreign imports, the refinery was purchased by the INPC in 1982. [5] The Fuels (Control of Supplies) Order 1982 mandated that all importers of petroleum to Ireland purchase a proportion from the INPC, to ensure the refinery's success. [5]
The INPC acquired the Whiddy Island Terminal, destroyed in the 1979 Whiddy Island disaster, in 1985, [6] which it repaired and reopened by 1998. [7]
The National Oil Reserves Agency (NORA) was created in 1995 as a subsidiary of INPC and as of 2020 [update] continues to manage Ireland's strategic oil reserves. [8]
Government philosophy later shifted away from owning strategic assets and towards privatisation, [9] :74 and in 1999 the INPC was asked by Minister for Public Enterprise Mary O'Rourke to investigate alternative commercial opportunities for its assets. [10] In 2000, American multinational TOSCO Corp announced its intention to acquire the INPC's assets (excluding NORA), [10] which was completed in 2001. [11] [12]
Gulf Oil was a major global oil company from 1901 until March 15, 1985. The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies. Prior to its merger with Standard Oil of California, Gulf was one of the chief instruments of the Mellon family fortune; both Gulf and Mellon Financial had their headquarters in Pittsburgh.
Bantry Bay is a bay located in County Cork, Ireland. The bay runs approximately 35 km (22 mi) from northeast to southwest into the Atlantic Ocean. It is approximately 3-to-4 km wide at the head and 10 km (6.2 mi) wide at the entrance.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Petróleo Brasileiro S.A., better known by the acronym Petrobras, is a state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The company's name translates to Brazilian Petroleum Corporation — Petrobras.
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968. Leon Hess served as CEO from the early 1960s through 1995, after which his son John B Hess succeeded him as chairman and CEO.
Whiddy Island is an island near the head of Bantry Bay, Ireland. It is approximately 5.6 km (3.5 mi) long and 2.4 km (1.5 mi) wide. The topography comprises gently-rolling glacial till, with relatively fertile soil. As late as 1880 the island had a resident population of around 450, mainly engaged in fishing and small-scale farming, but today the population has reduced to approximately 20 people. Previously home to Whiddy Island Naval Air Station the island is noted for its oil terminal facilities – and the related Whiddy Island Disaster.
Murphy Oil Corporation is a company engaged in hydrocarbon exploration headquartered in Houston, TX. The company recently closed all other offices in El Dorado, AR and Calgary, Alberta.
Kuwait Petroleum Corporation is Kuwait's national oil company, headquartered in Kuwait City.
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing headquartered in Brentwood, Tennessee.
The Whiddy Island disaster, also known as the Betelgeuse incident, occurred on 8 January 1979, around 1:00 am, when the oil tanker Betelgeuse exploded in Bantry Bay, at the offshore jetty for the oil terminal at Whiddy Island, Ireland. The explosion was attributed to the failure of the ship's structure during an operation to discharge its cargo of oil. The tanker was owned by Total S.A., and the oil terminal was owned and operated by Gulf Oil.
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Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company headquartered in Mumbai, Maharashtra.The Corporation operates two large refineries of the country located in Kochi and Mumbai. The company is India's 2nd largest downstream oil company and is ranked 275th on the Fortune list of the world's biggest corporations as of 2019. BPCL ranked 672 in the Forbes 2018 list.
Hindustan Petroleum Corporation Limited (HPCL) is an Indian public sector oil and gas company. It is a subsidiary of ONGC with its headquarters in Mumbai, Maharashtra. It has a 25% market-share in India among public sector undertakings (PSUs) coupled with a strong marketing infrastructure. Its parent company is ONGC which owns a 51.11% stake in the company. The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. HPCL was removed from NIFTY 50 INDEX in March 2019 On 24 October 2019, the company became a Maharatna PSU.
Tosco was an independent US based petroleum refining and marketing corporation based in Stamford, Connecticut. It was founded in 1955 in Santa Monica, California by A&P heir Huntington Hartford, and originally focused on extracting oil from oil shale and developing alternative energy sources.
The Tanzania International Petroleum Reserves Limited (TIPER) is a joint venture between the Government of Tanzania (GoT) and Oryx Energies. It operates the largest oil terminal in the country, and will have a storage capacity of 213,200 m3 by 2015.
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China National Offshore Oil Corporation, or CNOOC Group, is one of the largest national oil companies in China. It is the third-largest national oil company in the People's Republic of China, after CNPC and China Petrochemical Corporation. The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China, along with its subsidiary COOEC.
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Trainer Refinery is an oil refining facility located in Trainer, Delaware County, Pennsylvania. The facility is about downstream from the Port of Chester and fifteen miles southwest of Philadelphia along the Delaware River. Stoney Creek is along its northern perimeter. The Trainer Refinery is owned by Monroe Energy, LLC, a subsidiary of Delta Air Lines. Monroe Energy acquired the facility in June 2012. Since that time, the company has focused on producing high-quality transportation fuels at the refinery. In addition to jet fuel, the facility also produces gasoline, diesel, and home heating oil.
The Petroleum and Submarine Pipe-lines Act 1975 is an Act of the Parliament of the United Kingdom which addressed the licensing, ownership, exploitation, production, transportation, processing and refining of petroleum and petroleum products in the UK. Enacted in 1975 when the UK’s first North Sea oil was produced, the Act aimed to provide greater public control of the oil industry. The Act established the British National Oil Corporation and a National Oil Account; modified the conditions of petroleum licences; controlled the construction and use of underground pipelines; and controlled the development of oil refineries.
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