The Labour Party has announced it is "looking forward" to engaging with Irving Oil on the security of energy supply in Ireland.
Irving Oil confirmed it is to acquire Whitegate oil refinery in Cork.
Spokesperson on Public Expenditure and Reform, Communications, Climate Change and Natural Resources, Sean Sherlock TD, welcomed the announcement.
He said: "I believe this is a positive development, and I hope that jobs in Whitegate can be preserved and that this announcement will prove to be a platform for further job creation.
"I also believe that as well as a providing for security of energy supply, there must be a pro-active plan for sustainable energy production."
(CD/JP)
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