An oil tanker owned by Irving Oil arrives in Portland Harbor to unload fuel, in South Portland, Maine, Thursday, April 22, 2021. Irving Oil says a strategic review of the company is underway and that it is looking at a series of options about its future, including a sale. THE CANADIAN PRESS/AP-Robert F. Bukaty
SAINT JOHN, N.B. – Irving Oil says a strategic review of the company is underway and that it is looking at a series of options about its future, including a possible sale of the business.
In a statement on its website, the company says consideration will be given to a new ownership structure, a full or partial sale, or a change in its portfolio of assets and how it operates them.
The company says it will evaluate its options in the coming month.
The statement is signed by chairman Arthur Irving, president Ian Whitcomb and executive vice-president Sarah Irving.
Irving Oil operates the largest oil refinery in Canada and Ireland’s only refinery.
The company also has more than 900 gas stations and a network of distribution terminals.
This report by The Canadian Press was first published June 7, 2023.
