Irving Oil

What Irving Oil does

Irving Oil Limited is a privately held, family-owned integrated energy company founded in 1924 and headquartered in Saint John, New Brunswick, Canada. The company operates two refineries — Canada's largest at 320,000 barrels per day in Saint John and Ireland's only refinery at Whitegate, County Cork — alongside an Atlantic Canada and New England terminal network and a fleet of tractor trailers. Irving employs over 3,000 people across Canada, the United States, and Ireland, and runs more than 900 fuelling locations under the Irving brand, complemented by Big Stop Restaurants, IRVING 24 truck stops, and ancillary amenities such as Bark Parks and EV charging. The product portfolio spans gasoline (including early-to-market lead-free and low-sulfur formulations), ULSD diesel, heating oil, kerosene, jet fuel, marine fuels, asphalt, propane, compressed natural gas, diesel exhaust fluid (DEF), and lubricants (Irving Lubricants and Cobra Lubricants), produced in part through the company's in-house blending and packaging division with associated laboratory services.

The company generates revenue through a multi-channel model: direct-to-consumer retail at fuelling stations, commercial energy delivery (heating oil and propane to homes and businesses), wholesale distribution through terminals, fleet card programs (IRVING 24 Card, Irving Commercial Card) supported by the Fuel Genius fleet management platform, and a Cargo & Product Trading desk for B2B fuel trading. Customer segments are diversified across residential heating customers, commercial and industrial buyers, professional fleet operators, and wholesale resellers, with a horizontal segmentation approach. Pricing is commodity-linked for refined products and negotiated by volume for commercial and wholesale contracts; loyalty programs (Blue Rewards, Hometown Rewards, Irving Rewards) drive repeat retail traffic. Distribution is regional rather than global, anchored in Atlantic Canada, the broader Canadian market, New England, and Ireland, and supported by partnerships such as the recent $35 million gift to Mass General Brigham for cancer care and rail logistics awards from CN and Union Pacific.

Name

Irving Oil

Legal name

Irving Oil Limited

Website

https://irvingoil.com

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Irving Oil is a privately held, family-owned integrated energy company founded in 1924 that operates Canada's largest refinery and Ireland's only refinery, supplying gasoline, diesel, heating oil, jet fuel, propane, marine fuels, and lubricants through over 900 retail fuelling locations and a terminal network serving residential, commercial, fleet, and wholesale customers across Atlantic Canada, New England, and Ireland.

Ownership category

akta.pro rank

Product category

Petroleum Refining & Distribution

NAICS

Petroleum and Petroleum Products Merchant Wholesalers (4247), Petroleum Refineries (32411), Petroleum Bulk Stations and Terminals (424710), Petroleum Lubricating Oil and Grease Manufacturing (324191)

SIC

Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)

akta.pro secondary industries

Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD), Lubricants Distribution & Wholesale (Bulk, Packaged, B2B) (EUALAJAE)

Keywords

• Petroleum refining
• Fuel distribution
• Home heating oil
• Fleet card services
• Retail gas stations

Headquarters

HQ city

Saint John

HQ country

Canada

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Refined Petroleum Products: Sale of refined petroleum products including gasoline, diesel, heating oil, and jet fuel through retail stations and commercial channels. Primary revenue stream from two refineries (Canada's largest and Ireland's only).
2. Propane Distribution: Residential and commercial propane distribution for heating and other energy needs.
3. Lubricant Products: Production and sale of lubricants for automotive and industrial applications.
4. Marine Fuels: Bunkering and marine fuel services at port locations.
5. Asphalt Products: Production and distribution of asphalt for construction and infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Irving Oil is an integrated energy company that refines, distributes, and sells petroleum products including gasoline, diesel (ULSD), heating oil, kerosene, jet fuel, marine fuels, asphalt, propane, natural gas, diesel exhaust fluid (DEF), and lubricants. The company operates two refineries (Canada's largest in Saint John, NB at 320,000 bpd and Ireland's only refinery in Whitegate, Cork), a network of distribution terminals, over 900 fuelling locations, and serves residential, commercial, fleet, and wholesale customers across Eastern Canada, the U.S. Northeast, and Ireland.

Product overview

Irving Oil is an integrated energy company operating since 1924 with a multi-product portfolio across refining, distribution, and retail. The company operates two refineries (Canada's largest in Saint John, NB and Ireland's only refinery in Whitegate), a network of distribution terminals, over 900 fuelling locations, and a fleet of tractor trailers. The core product portfolio includes petroleum products: gasoline, diesel (ULSD), heating oil, kerosene, jet fuel, asphalt, marine fuels, natural gas, diesel exhaust fluid, and lubricants (Irving Lubricants and Cobra Lubricants brands). B2B and commercial offerings span wholesale fuel sales, Cargo & Product Trading, Blending & Packaging with Lab Services, and Fleet Cards (IRVING 24 Card, Irving Commercial Card, Fuel Genius). Consumer-facing products include the Irving Energy home heating division (propane and heating oil), loyalty programs (Blue Rewards, Hometown Rewards, Irving Rewards), and truck stop amenities (Big Stop Restaurants, Bark Parks, EV Charging). The company also provides a Customer Self-Serve B2B portal for account management.

Differentiator

Problem solved

Functional benefit

Brands

• Big Stop Restaurants: Restaurants at Irving Big Stop truck stop locations for professional drivers and travelers
• IRVING 24
• Irving Lubricants
• Cobra Lubricants
• Blue Rewards
• Hometown Rewards
• Fuel the Care
• Fuel Genius

Products and services

• Heating Oil

Quantifiable outcome

• Canada's largest refinery with 320,000-barrel-per-day capacity
• +1 more outcomes

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Mass General BrighamcoreGTM or Marketing Partner · 1 January 2024Irving Oil made a $35 million gift to Mass General Brigham to support cancer care and research initiatives. This represents one of the largest corporate philanthropy investments in healthcare in the region, strengthening community ties and brand reputation.
• MADD Canada (Mothers Against Drunk Driving)minorGTM or Marketing PartnerPartnership supporting Project Red Ribbon road safety initiative, promoting safe driving practices during the holiday season and raising awareness about the dangers of impaired driving.
• CN (Canadian National Railway)minorStrategic or Co-development PartnerRecognition as CN Safe Handling Award winners, acknowledging safe handling practices in rail operations and logistics partnerships.
• Union PacificminorStrategic or Co-development PartnerRecognition with Union Pacific Pinnacle Award, indicating excellence in railroad operations and logistics partnership.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Imperial Oil: Major integrated Canadian oil company operating refineries, fuel retail, and lubricant brands. Highly comparable in product portfolio and downstream positioning, though larger and publicly listed.
• Suncor Energy: Canada's largest integrated energy company with refining, retail (Petro-Canada), and lubricant operations. Comparable in vertical integration and Canadian fuel retail footprint.
• PBF Energy: Independent US refiner with comparable asset-heavy refining model and exposure to commodity refining margins. Comparable in scale and product slate focused on transportation fuels.
• Phillips 66: US-based integrated refining and marketing company. Highly comparable product mix (gasoline, diesel, jet, lubricants) and midstream-to-retail model; previously operated the Whitegate refinery before selling to Irving.
• Parkland Corporation: Canadian-based fuel retailer and refiner with a comparable downstream platform spanning retail, commercial, and wholesale channels. Most directly comparable peer given similar Atlantic Canada/Canadian footprint and integrated refining-to-retail model.
• Marathon Petroleum: Major US refining and marketing company with comparable downstream portfolio across transportation fuels and wholesale distribution. Similar capital intensity and operational complexity.
• Valero Energy: Large independent US refiner and fuel marketer. Comparable in scale of refining operations, wholesale distribution, and branded fuel marketing to retail and commercial customers.

Broad incumbents

• Alimentation Couche-Tard (Circle K): Global fuel retail and convenience store operator with overlapping retail fuelling locations across Canada and the US. Overlaps in retail brand and loyalty programs, though without Irving's refining exposure.

Regional players

• Global Partners: Northeast US-focused fuel distribution and retail operator. Comparable in regional New England fuel distribution footprint, terminal operations, and heating oil exposure.

Others

• Top Oil / Tedcastle Holdings: Acquired by Irving Oil in 2019 and now a wholly-owned subsidiary; included as a comparability reference for Irish-market fuel retail and heating oil distribution rather than a standalone peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/irvingoil
• LinkedInlinkedin.com/company/17194
• Instagraminstagram.com/irving_oil
• Xx.com/irvingoil

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Irving Oil