Irving Oil Announces ‘Strategic Review’ and Possible Sale of Company

Irving Oil is conducting a strategic review of the company and “a series of options are being evaluated related to the company’s future,” it said in a statement posted on its website.

“No decisions have been made about where this strategic review may lead,” the company said. “Consideration will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them.”

Irving Oil is an international refining and marketing company. Founded in 1924, Irving Oil operates Canada’s largest refinery in Saint John, New Brunswick, along with more than 900 fueling locations and a network of distribution terminals spanning Eastern Canada and New England. It also operates Ireland’s only refinery, located in the village of Whitegate. In 2019, Irving Oil expanded its presence in Ireland by acquiring Top Oil, a leading supplier of home heating oil, petrol and diesel fuel. Irving Oil established its European operations in 2014 with an office in London, England, and tankage in Amsterdam.