Irving Oil Inks Deal to Acquire Come-By-Chance Refinery and Other Assets

Canadian-owned Irving Oil and U.S. investment firm Silverpeak have signed an agreement for Irving Oil to acquire North Atlantic Refining Corp., subject to regulatory review and conditions of sale being met. The agreement includes a 135,000 bpd refinery located in Come-By-Chance, NL, and a network of retail sites and other marketing assets.

As a family-owned international refining and marketing company based in Atlantic Canada, Irving Oil has proudly served the people of Newfoundland and Labrador since 1950, providing a secure supply of energy to its customers across the province.

NARL enjoys a fully integrated market presence and well-established ties to the communities it serves. With its deep-water terminal location and a network of retail assets, including both company and dealer sites, North Atlantic provides a reliable supply of fuel products to businesses and consumers across Newfoundland.

Irving Oil would look forward to the opportunity to continue to provide a secure supply of energy to customers across the province.

About Irving Oil

Irving Oil is an international refining and marketing company with a history of long-term partnerships and relationships. Founded in 1924, Irving Oil operates Canada’s largest refinery in Saint John, New Brunswick, along with more than 900 fuelling 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.