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Irving Oil to Acquire North Atlantic Refining to Include Refinery and Retail Sites
Friday 29 May 2020

Canadian-owned Irving Oil, a gasoline, oil and natural gas-producing and exporting company, has agreed to acquire Newfoundland-based petroleum refinery North Atlantic Refining Corp. from US investment firm Silverpeak, the company said.

Terms of the transaction were not disclosed and are 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.

North Atlantic has a deep-water terminal location and a network of retail assets, including both company and dealer sites, and is a source of supply of fuel products to businesses and consumers across Newfoundland.
Date Published: 29/05/2020