Irving Oil reviewing strategic options including sale

“But the ongoing concern about the impact of federal policies on this business has been expressed time and time again,” he said.

Even if the refinery continues to run for another 20 or 30 years there will be much less economic activity than if it was New Brunswick ownedBut Campbell said the good news would be that if Irving Oil sells, the ownership will have capital. Gradually forcing suppliers to reduce the carbon intensity of their fuel has ultimately forced refiners to make changes, at a cost.Article contentThe Higgs government instead introduced legislation last year to allow that added cost to be passed onto consumers, changing the price-setting formula for gasoline and other liquid fuels to include a “cost of carbon adjustor” in the province’s Energy and Utilities Board formula.

Comeau suggested the move could also trigger a rebranding, Irving dropping the “Oil” moniker to become “Irving Energy.”

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