Acquisition of four storage facilities will strengthen energy supply and delivery across the province
HALIFAX, Dec. 5, 2016 /CNW/ – Irving Oil announced today that it has entered into a purchase agreement to acquire four inland storage facilities in Nova Scotia from Valero Energy Inc. The storage facilities are located in the communities of Port Hawkesbury, New Glasgow, Yarmouth and Bridgewater and represent a combined capacity of nearly 21,000 barrels of gasoline, diesel and home heating oils. The agreement is expected to close before the end of the year.
The acquisition will help facilitate Irving Oil’s distribution of energy products to customers throughout Nova Scotia, using the newly revitalized Halifax Harbour Marine Terminal as a primary supply point.
“Nova Scotians need a reliable supply of energy they can count on in order to do business and take care of their families,” says Mark Sherman, Chief Operating Officer for Irving Oil. “After an $80-million investment to reopen the Halifax Harbour Terminal, we’re proud to invest in our backyard in Nova Scotia, creating a network that will enhance our offerings to our customers in the region.”
“Irving Oil has proudly served Nova Scotia for more than 80 years,” says Louis Labelle, Director of Delivered Energy for Irving Oil. “This investment reflects our confidence in, and long-term commitment to, Nova Scotia and all of Atlantic Canada as we continue to ensure a safe, secure and reliable energy supply to the region.”
About Irving Oil
Irving Oil was founded in 1924 and is an international refining and marketing company with a history of long-term partnerships and relationships. Irving Oil operates Canada’s largest refinery, in Saint John, New Brunswick, which is located 65 miles north of the US border and has reached production rates in excess of 320,000 barrels per day. It also operates Ireland’s only refinery, located at Whitegate in southern Ireland, with a capacity of 75,000 barrels per day. With over 900 fueling locations, operations from ten distribution terminals, and a delivery fleet of tractor‐trailers, Irving Oil serves wholesale, commercial, and retail customers in Atlantic Canada, Quebec, and New England. Learn more at facebook.com/irvingoil or www.irvingoil.com.