PORTLAND, Maine — Irving Oil Terminals Inc. says it has reached an agreement with ExxonMobil to buy two petroleum terminals in South Portland and Bangor and the 124-mile pipeline that connects them.
Irving Oil Terminals Sales Director Bob Blanchard tells the Portland Press Herald that the company will continue full operation of the terminals and the pipeline. The purchase is subject to regulatory review, with a closing targeted for mid-December.
Irving Oil Terminals, based in Portsmouth, N.H., markets and distributes petroleum products throughout New England. It is affiliated with Irving Oil Refining, which operates Canada’s largest refinery, in Saint John, New Brunswick.