BANGOR DAILY NEWS • June 9, 2023
Irving Oil, the Canadian company that supplies about two-thirds of Maine’s gas, diesel and heating oil, surprised industry watchers Wednesday when it said it is undertaking a strategic review that could lead to a full or partial sale. Some speculate that younger Irvings — the company is in its third generation of family owners — may be signaling problems such as government policies to move from fossil fuels to net-zero technologies including electric vehicles. Irving Oil is sometimes confused with its sister company, J.D. Irving, which is Maine’s largest landowner with more than 1.25 million acres of timberland in the northern part of the state. The two companies are each run by an Irving family member but operate separately.