The Husky gas station on Sumas Way in Abbotsford. (Dustin Godfrey/Abbotsford News)

Husky Energy looks to sell Prince George refinery, 500 retail locations

Husky has more than 500 service stations, travel centres, cardlock operations and more in Canada

Husky Energy Inc. says it is looking at getting out of retailing fuels to consumers after 80 years in the business.

The Calgary-based oilsands producer says it is launching a strategic review that could result in it selling its Canadian retail and commercial fuels business and its small Prince George refinery.

READ MORE: $1.18 to $1.58 a litre: Are you paying the most for gas in B.C.?

It says it prefers to focus on its core upstream assets in northeastern Alberta, Atlantic Canada and the Asia Pacific region, adding the decision is not related to its offer that expires next week to buy oilsands rival MEG Energy Corp.

Husky has more than 500 service stations, travel centres, cardlock operations and bulk distribution facilities from British Columbia to New Brunswick. Its myHusky Rewards loyalty program has about 1.6 million members.

The 12,000-barrel-per-day refinery in Prince George processes light oil into gasoline, diesel and other products for nearby regions of B.C. It owns two refineries and is half-owner of a third in the United States.

Spokesman Mel Duvall says Husky started selling fuel to consumers in 1938 shortly after the original owner built a small refinery in Cody, Wyo. The refinery was moved to Lloydminster on the Alberta-Saskatchewan border in 1946.

CEO Rob Peabody says in a news release the businesses are ”highly marketable” and will attract strong interest and valuations.

TD Securities Inc. is acting as financial adviser, with Torys LLP as legal adviser.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

City of Duncan considers tougher laws for drug houses

New bylaw gets first three readings by council

Transport truck flips on its side on TCH in Duncan

Workers salvaged milk and ice cream

Somebody ‘saw’ something: North Cowichan/Duncan RCMP seek tool owner

The item was recovered from the area of York Road and Dingwall Street in Duncan.

Astronaut David Saint-Jacques returns to Earth, sets Canadian space record

Native of Saint-Lambert, Que., set a record for longest single spaceflight by a Canadian at 204 days

Thieves steal two $40K chairs featuring gold serpents from Vancouver furniture store

Chairs believed to be the only two of its kind in Canada, police said

Poll: Rising gas prices force B.C. residents rethink summer road trips

63 per cent of respondents reported gas prices are impacting their day-to-day finances

PHOTO: Moose cow and calf relax in Williams Lake flower garden

The homeowners got a surprise when they checked their most recent surveillance footage

Two in hospital after plane crashes in Okanagan Lake

RCMP say wheels left down caused landing plane to overturn on lake

The world’s Indigenous speakers gather in B.C.’s capital to revitalize languages

Organizers estimate about 1,000 delegates from 20 countries will be at the conference

Join talks on international treaty: B.C. First Nations mark ‘historic moment’

Representatives of the Ktunaxa, Syilx/Okanagan and Secwepemc Nations participated

Companies need clearer rules on workplace relationships, study suggests

One-third of Canadians have been in love at work, and half say no policy on the matter exists

WITH VIDEO: Two endangered marmots released on Vancouver Island

With three new pups born in May, two more Vancouver Island Marmots… Continue reading

Most Read