Vol. 496 No. 3
44 Mrs. B. Moynihan-Cronin asked the Minister for Public Enterprise if she has concluded her considerations on the consultant's report on the outlook for the refining industry and the financial challenges facing the Irish National Petroleum Corporation; if she has received INPC's new business plan; and if she will make a statement on the matter. [22675/98]
The consultant's report to which the Deputy refers has been considered by my Department. In the light of that report and discussions over recent months between my Department and the INPC, the company has prepared a strategic business plan which assesses the options facing the company over the period up to 2005.
A major consideration in the company's assessment of future options is the EU-sponsored programme to reduce emissions from road transport by setting new specifications for motor fuels. This programme — called the EU Auto Oil 1 Programme — is to be implemented from 1 January 2000.
The INPC plan identifies a significant investment requirement at Whitegate in order to meet the new EU specifications. This significant level of investment is unavoidable if the refinery is to continue operating and trading after 1 January 2000.
