Statoil in refinery deal

The Norwegian oil company Statoil, which acquired Aran Energy last year, is to supply the Irish National Petroleum Corporation's (INPC) refinery in Whitegate, Co Cork with an initial 700,000 barrels a year of light North Sea crude. The first cargo of 600,000 barrels is due to be delivered to Whitegate today, Statoil said. The agreement covers about 25 per cent of Whitegate's capacity, but the volumes could be increased, Statoil said in a statement, adding that the agreement with the INPC ensures stable deliveries for the group's chain of 350 service stations in Ireland.