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Canadian Railroads > CP Rail and Irving Oil


Date: 05/16/24 08:37
CP Rail and Irving Oil
Author: Lackawanna484

Many stories in the news about a possible sale of all or part of Irving Group of companies.  This includes their 320,000 barrels per day refinery which is fed partly by Canadian Pacific + Irving related railroads.  The refinery in Saint John NB supplies much of the Canadian Maritimes with gasoline, propane, diesel fuel, aviation gas, etc, and is a major exporter.

A recent story on CBC suggests that US based PBF Energy could be a buyer. They operate the Delaware City DE terminal which has been well supplied by Norfolk Southern for over a decade. CP's buy back of the line through Lac Megantic for a link up with the various Irving lines was part of the effort to restore this vital rail link with Canada's oil producing West.


https://www.cbc.ca/news/canada/new-brunswick/irving-oil-possible-sale-leadership-changes-arthur-irving-chairman-sarah-1.7002792

 



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