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Husky Energy considering sale of non-core Canadian downstream assets
Husky Energy has said that it is planning to undertake a strategic review and will potentially sell its Canadian retail and commercial fuels business and its Prince George refinery. The decision comes as the company increasingly focuses on core assets in its integrated corridor and on its offshore business in Atlantic Canada and the Asia-Pacific region.
Husky’s retail and commercial network consists of more than 500 service stations, travel centres, cardlock operations and bulk distribution facilities from British Columbia (BC) to New Brunswick. The myHusky Rewards loyalty programme has about 1.6mn members.
The 12,000 b/d Prince George Refinery is located in Prince George, BC, and processes light oil into low-sulphur gasoline and ultra-low sulphur diesel, along with other products. It supplies refined products to retail outlets in the central and northern regions of BC.
- Husky’s offer for MEG Energy expired on 16 January 2019, with the minimum tender condition not met. Due to insufficient MEG Board and shareholder support, Husky has decided not to extend its offer.
News Item details
Journal title: Petroleum Review
Region: North America
Countries: Canada -
Subjects: Economics, business and commerce, Refining, Forecourt retailing
