Seanad debates

Thursday, 4 November 2004

10:30 am

Photo of Paul CoghlanPaul Coghlan (Fine Gael)

I will leave that up to the Leader. I am concerned about value for the taxpayer in that this sale included the oil refinery at Whitegate and the storage depot at Whiddy Island. It was sold to Conoco — perhaps there was another company involved before it, or which it took over. The company's name sounded like an opera. I think the name I was given was Tosco. I do not know if the Leader was Minister at the time but the headline consideration was £100 million. In answer to a question in the other House last week, the Minister stated the State had received, or was likely to receive, only €20 million. That is hardly value for the taxpayer. Are there shades of Irish ISPAT here?

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