Name: How the war in Iran is squeezing Irving Oil
Uploaded: 2026-04-03T01:24:05.930Z
Duration: 3 min 32 s
Description: Canada’s biggest refinery is scrambling for alternatives to its longtime Saudi oil partner

Canada’s biggest refinery is scrambling for alternatives to its longtime Saudi oil partner

Irvine

The war in Iran has significantly disrupted Irving Oil's crude oil supply from Saudi Arabia, threatening a 65-year business relationship. In response, Irving filed an emergency application with Canadian regulators to use a foreign vessel for a one-time shipment from Newfoundland's offshore, highlighting the company's concern over its Saudi supply.

Despite diversifying with oil from the United States and Nigeria in recent years, Saudi crude remains a major part of Irving's operations. Regulators approved Irving's request, but the ongoing conflict continues to create uncertainty over when normal supply chains will resume.

How the war in Iran is squeezing Irving Oil

See that ship out there in the Bay of Fundy? It's called the SFL Albany. That ship left Saudi Arabia on February 14th, passed through the Strait of Hormuz, then sailed for St. John to carry crude oil to the Irving oil refinery. It got out two weeks before the start of a war that has jeopardized a 65 year old relationship between a Middle East kingdom and New Brunswick's richest family. It began when Standard Oil of California, SoCal, developed Saudi Arabia's oil sector in the 1930s. The deal with the Saudi state oil company required SoCal to sell 30% of its product. In the 1950s a global oil glut forced SoCal to look for new buyers. Casey Irving was building his St. John refinery. SoCal bought a stake in Irving oil and the refinery helping to pay for the project and in return Irving promised to buy all its crude from Saudi Arabia. When John Diefenbaker's government looked at forcing refineries in eastern Canada to buy oil from western Canada, Casey Irving said no. Saudi oil was cheaper and easier to get. Irving got his way. The buy Canada requirement only extended as far east as Ontario. The Saudi government eventually took over the kingdom's oil sector from SoCal and Irving bought out SoCal's stake in the refinery in the 1980s. But Irving remained a loyal buyer of Saudi crude. Even when the Energy East pipeline was on the table to bring Alberta crude to St. John, Irving said it would keep buying from the Saudis. In recent years the company has bought more oil from the United States and Nigeria. That other ship out there on the right is full of Nigerian crude. But Saudi oil has been a major part of the Irving supply. Now the war is disrupting that flow. By the way, just to be clear, this is not the reason gas prices are so high. Yes, the gas here comes from the refinery, but regulators set the price using a benchmark that ultimately is based on the global price of oil. It's the big picture of the war, not Irving's supply problems, that's making you pay more. In March Irving filed this emergency application with federal regulators calling the war the most significant crude oil supply disruption in recent history. Irving asked for permission to use a foreign vessel for a one-time shipment of oil from Newfoundland's offshore to St. John, a clear sign it's worried about its Saudi supply. Ottawa said yes, but given the turmoil caused by the war, it's not clear when the squeeze on Irving will end. The company did not respond to our request for an interview about this major test. Maybe the biggest ever for its long-standing relationship with the Saudi oil sector.

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