Irving Oil Starts Review That Puts Key Refinery on Market
- New Brunswick refinery is valued at as much as $2 billion
- Potential sale happens as refineries in North America close
The Irving Oil refinery is show in this 2014 aerial photograph taken above Saint John, New Brunswick.
Photographer: Aaron McKenzie Fraser/Bloomberg
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Irving Oil Ltd., the operator of Canada’s largest crude refinery, is reviewing strategic options that may include putting billions of dollars worth of key North American refining and fuel-distribution assets up for sale.
Other options include a change in the portfolio of its assets and how it operates them, though “no decisions have been made about where this strategic review may lead,” the company said on its website Wednesday.