New Houston energy company buys major oil terminal from Phillips 66

Phillips 66 (NYSE: PSX) has sold a major petroleum terminal to a new Houston energy company founded last year by the Warburg Pincus LLC private equity firm.

Houston-based Zenith Energy, a liquids and bulk terminaling company, acquired the Bantry Bay Oil Terminal in West Cork, Ireland. The terminal holds close to one-third of Ireland’s strategic reserve.

The companies would not disclose the terms of the transaction.

Got Energy? Sign up for our Energy Inc. newsletter here

The terminal, located…