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Irving Oil Terminals acquires Maine assets

Irving Oil Terminals Inc., a New Hampshire-based subsidiary of Saint John's Fort Reliance, is set to acquire two petroleum terminals in Maine and a 124-mile pipeline that connects the terminals. Irving Oil Terminals has inked a purchase and sale agreement with ExxonMobil to acquire two petroleum terminals - located in Bangor and South Portland - along with a 124-mile pipeline that connects the terminals. The purchase is subject to regulatory approval and is expected to close in mid-December. Spokeswoman Patricia Brennan said the deal will enable the company to better serve its growing New England customer base. "We're always looking for opportunities to grow and this was an opportunity for us to increase our ability to provide reliable supply to customers," she said.