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Friday, July 24, 2009

Irving Oil and BP Will Not Proceed With Second Refinery

Irving Oil and British Petroleum are not moving forward with the proposed second refinery.Irving spokesperson Kevin Scott says due to the economic downturn, and a decrease in demand for petroleum, the project cannot move forward.
Scott says in the current petroleum marketplace, an 8 billion dollar project is not viable.
Scott says Irving will continue the environmental permitting processes relating to the Eider Rock project to preserve future options if the market were to return to previous levels.

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