SAINT JOHN, NB, March 20, 2015 /CNW/ – Irving Oil has agreed, subject to court approval, to contribute $75 Million (CDN) to the compensation fund that has been established for those suffering losses as the result of the Lac-Mégantic derailment. We fully support the establishment of the fund as an industry-wide response to the tragedy, which will provide substantial payments without further lengthy legal proceedings.
About Irving Oil
Irving Oil was founded in 1924 and is a privately owned regional refining and marketing company with a history of long-term partnerships and relationships. Irving Oil operates Canada’s largest refinery, in Saint John NB, which is located 65 miles north of the US border and has reached production rates in excess of 320,000 barrels per day. With over 900 fueling locations, operations from eight distribution terminals, and a delivery fleet of tractor-trailers, Irving Oil serves wholesale, commercial, and retail customers in Atlantic Canada, Quebec, and New England.
SOURCE Irving Oil