Irving Oil is set to acquire four inland storage facilities from Valero Energy with a combined capacity of almost 21,000 barrels.
The facilities in Port Hawkesbury, New Glasgow, Yarmouth and Bridgewater can store petrol, diesel and home heating oils.
The acquisition is expected to close before the end of 2016.
The acquisition will help facilitate Irving Oil’s distribution of energy products to customers throughout Nova Scotia, using the newly revitalised Halifax Harbour Marine Terminals as a primary supply point.
Mark Sherman, COO for Irving, says: ‘After an $80 million investment to reopen the Halifax Harbour Terminal, we are proud to invest in our backyard Nova Scotia, creating a network that will enhance our offerings to our customers in the region.’