Irving Oil News

Algoma Central Corporation announced it has placed an order with Hyundai Mipo Shipyard in South Korea to build two 37,000 DWT ice class product tanker vessels for a total investment of CA$127 million (about US$96.2 million).These new ships will be entered on long-term time charters to Irving Oil under Canadian flag, servicing the energy company’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the U.S. East Coast.Delivery of the new vessels is expected during the first quarter of 2025.

On July 20, the tanker Cabo de Hornos delivered an estimated 450,000 barrels of crude oil to the Irving Oil refinery’s Canaport storage facilities in Saint John, N.B.What made Cabo de Hornos’s delivery different was that it was the first time crude oil had arrived in Saint John by ship from Alberta. It came via the Trans Mountain pipeline to the Westbridge Marine Terminal in Burnaby, B.C., and then through the Panama Canal.By the end of April next year, a second tanker will arrive at Canaport carrying 350,000 to one million barrels of Western Canadian crude oil. In this case, the oil will have come via pipeline from Alberta to a crude oil exporting terminal in Texas or Louisiana.For most of the Saint John refinery’s 50 years of operation…

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that makes it three times more expensive to ship by water between U.S. ports than to sail to a foreign port. The Jones Act, originally passed to protect the U.S. maritime industry, restricts passage between U.S. ports to ships that are U.S.-built, U.S.-flagged and U.S.-crewed. If oil exports pick up pace while the Jones Act is left in place, U.S.

Sheriff Craig Apple assured a room of concerned citizens that county emergency crews were prepared to handle an oil-train accident involving three or four tank cars. Firefighters have been training to combat railcar fires with foam, and evacuation plans are detailed in a 500-page emergency response plan, Apple told residents in a May 12 address. Albany's tracks handle as much as a fourth of the oil pumped from North Dakota's booming Bakken Shale, or up to several 100-car trains per day, each carrying 70,000 barrels. It is one of several spots along North America's new oil-by-rail corridors where residents and officials are restless, following six fiery derailments in the past 10 months.

Irving Oil and TransCanada will form a joint venture to develop and construct the new Canaport Energy East Marine Terminal at Irving Canaport in Saint John. Proposed $300M marine terminal represents first major regional investment 
directly linked to the Energy East Pipeline Project. The news came following TransCanada's announcement to proceed with the development of the Energy East Pipeline that will transport western Canadian crude oil to Montreal, Quebec City and Saint John. The proposed $300 million marine terminal adds to the significant infrastructure investment Irving Oil has made in the Canaport facility over the past several decades.

Buckeye Partners, sign a multi-year agreement with an Irving Oil subsidiary for multi-million barrel storage facility in Port of Albany on the Hudson River. The approximately 1.8-million barrel storage facility located within the Port of Albany along the Hudson River is expected to begin handling crude oil on November 1, 2012. Buckeye plans to make modifications to the Albany terminal that, once completed, will allow the terminal to handle both crude oil and ethanol unit-trains with a total capacity in excess of 135,000 barrels per day. "Rail transport has become a critical component of the logistics chain as domestic crude oil production has increased significantly," said Clark C. Smith, Buckeye's President and Chief Executive Officer.

The Coast Guard Captain of the Port hosted a Model Port Boston meeting in which the project's partners signed a charter outlining its mission and goal. The model port project, officially named Boston - A Model Port, is one of several Operation Safe Commerce projects underway across the country. In Boston, the project represents a coalition of state, local and federal agencies, and private sector businesses united to enhance port and transportation security while facilitating commerce. The model port project gathers and provides information regarding current security and safety practices in supply chains and critical port activities; assists in collaborative efforts to develop and share best practices for the safe and secure movement of people…

by Dennis L. When the federal government began examining United States vulnerabilities in the days following the horrific terrorist attacks of September 11, 2001, it quickly became apparent that significant weakness existed on the U.S. maritime borders. Many, but not all, of these weaknesses were systemic and derived from both the U.S. open society and the procedures underlying modern maritime commerce. The goal quickly became to reduce the risk of maritime terrorism while not fundamentally altering the efficiencies of the commercial system. It was quickly realized that the threat to the maritime sector consisted of two distinct types: explosives and other contraband being shipped as cargo (particularly in a container) and the ship being used as a weapon…

Repsol YPF announced that it has signed agreements with M&NP for transportation service on a new pipeline system in Canada, as well as for a planned expansion of M&NP’s pipeline system in the United States, which will deliver volumes from the Canaport™ LNG import terminal to downstream markets. Under these agreements, Repsol YPF will be able to move its existing LNG supplies into the North American market. Repsol YPF announced in June that it had agreed with Irving Oil to form a new company, Canaport™ LNG, which will build, own and operate the Canaport™ LNG terminal in Saint John, New Brunswick. The terminal will initially be capable of delivering 1 BCFD of regassified LNG into the market. The Canaport™ LNG terminal is a key milestone in Repsol YPF’s strategy.

the Canaport LNG project begins this week at Irving Canaport. site was completed in May 2005. excavation and leveling, and is the precursor to full-scale construction. construction (EPC) earlier this summer. begin in Spring 2006. Irving Oil Limited and Repsol YPF, S.A. the LNG regassification terminal in Saint John. regassified LNG into the market.