The Federal Trade Commission the company to relinquish the rights to terminal and pipeline assets acquired from ExxonMobil. The commission says the goal is to maintain competition in gasoline and distillates in the South Portland and Bangor/Penobscot Bay areas.
Meanwhile, in a statement to our newsrom, Irving Oil says they have voluntarily changed the structure of their deal to address the FTC's concerns and they were always aware of possible changes to the deal before anything was finalized.
Irving Oil says they will control the marketing rights of the terminals while ownership goes to Buckeye Partners, an energy supply firm.
