Monday, March 10, 2014

Irving Oil spending $60M on maintaining Saint John refinery

Source: http://www.nb.dailybusinessbuzz.ca/Provincial-News/2014-03-03/article-3631392/NB%3A-Irving-Oil-spending-%2460M-on-maintaining-Saint-John-refinery/1
Date of article: March 03, 2014

Atlantic Canada's business giant Irving Oil will be conducting upgrades of $60 million over the course of six weeks to maintain its equipment involved in refining oil. The plus side to this announcement is that Irving will be requiring 1700 extra workers to complete such an overhaul. This "turnaround" will require 24 hours a day, 7 days a week until completed. In total, about 2,000 people will be involved with the project, including 1,700 additional tradespeople, most of them from New Brunswick. This is fantastic news, as any boost in employment helps generate a healthy economy. The refinery is crucial in sustaining Irvings position in the east and northern section of the U.S. It can produce over 320,000 barrels a day, and typically exports 80% of its production to the U.S. Irving says gasoline exported from the refinery represents 19 % of all U.S. gasoline imports. I feel that is a huge number, how about you? Well done Irving!

2 comments:

  1. Wow! This is such great news! We need new jobs in our beautiful Province and this is a good start for us. I am really happy that these jobs are going to be created and also excited for the little boost in our economy. I totally agree with you when you say "Well done Irving". Great article Isaac.

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  2. We will have to follow this story and see where IO is within 6 weeks!!!!

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