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

Harrison Hot Springs to consider single-use plastics ban

Village staff will come back to council with a report on what a possible ban could look like

Wonder Pup book series by Chilliwack author teaches kids self-regulation skills

Author Angela Murphy and illustrator Davis Graham release first book Speak Up, Wonder Pup

Agassiz-Rosedale Bridge construction could start in 2021, MLA says

The project is expected to cost substantially more than budgeted in 2017

Fraser Valley developer offering to build barn owl nesting boxes for free

Gore Brothers says anyone with a suitable building can help the threatened raptor

EDITORIAL: Post-grad years are your time

Editor Grace Kennedy shares a few words for this year’s high school grads

VIDEO: Reading splashes into Agassiz’s Ferny Coombe Pool

The Agassiz Library held its annual Reading in the Pool event Friday, June 14

VIDEO: Toronto Raptors announcer credited with calming crowds after shooting

Matt Devlin, the Raptors’ play-by-play announcer since 2008, was praised for preventing panic from spreading

Mini-horse visits residents at Lower Mainland care home

Gunner turned a visit with grandpa into a major event for everyone at the residence

Women sue former Vancouver cop over alleged sexual abuse during pimp case

Two women claim James Fisher caused psychological trauma during the Reza Moazami investigation

First ever Indigenous person to join the RCMP to be honoured in B.C.

Hawk Kelly said becoming a Mountie was his dream job as a kid

Vancouver Canucks playing pre-season game in Abbotsford

Canucks hosting Ottawa Senators on Monday, Sept. 23

Mini pinscher at Maple Ridge SPCA needs spinal surgery

Bane has a painful condition known as Wobbler Syndrome

Deadline for cabinet to decide future of Trans Mountain expansion is today

International Trade Minister Jim Carr described the decision as ‘very significant’

Mom describes finding son ‘gone’ on first day of B.C. inquest into overdose death

Resulting recommendations could change handling of youth records amidst the overdose crisis

Most Read