Statoil has announced it may sell its Irish operations which includes petrol stations, terminals and oil distribution businesses.
It has interests in 236 petrol stations - 70 of which are fully owned by the company. The rest are dealer owned with service contracts with Statoil.
Jacob Schram, Statoil's senior vice president of retail in Europe, says the firm intends to accelerate its strategic commitment to its markets in Scandinavia and eastern Europe.
He said: "Whilst we have a solid position in Ireland, we believe that, under new ownership, the organisation there will be better placed to achieve its strategic potential."
Yesterday Royal Bank of Scotland bought Statoil's 30% stake in Synergen, the owner of the Dublin Bay Power plant, in a deal thought to be worth €75m, with ESB International retaining its 70% share.
Statoil's stated position is that it 'aims to streamline further the group's business activities'.
