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

Transport truck driver identified as one victim in double fatal head-on crash

Clifford Bishop, 54, a resident of Cassidy, had been a truck driver since he was 18

Volunteers needed for Sunday’s Festival of Lights takedown

Volunteers asked to meet at the 49th Parallel Grocery upper parking lot at 9 a.m.

Editorial: Need to look at more than just emergency Malahat bypass

We favour options that offer regular alternatives, not just a crash bypass.

Weather takes wind out of the sails of Ladysmith’s first fun sail

Lack of wind made it hard to complete first Ladysmith Maritime Society fun sail of the year

UK lawmakers reject Brexit deal in 432-202 vote

House of Commons votes against the deal struck between Britain’s government and the EU

Millennial Money: Don’t let Instagram envy get you into debt

A full 48 per cent of U.S. households have credit card debt

Jury debates fate of man accused of killing 12-year-old B.C. girl 40 years ago

Police allege Garry Handlen told a cop how he abducted, sexually assaulted and strangled Monica Jack in May 1978

Investigating change to B.C.’s licence and quota system

MP Ken Hardie hears from fish harvesters how corporations are favoured under current regime

Letters on way to all homeowners in B.C. speculation tax communities

Property owners have to register to avoid vacant-home tax

New orca calf in Salish Sea ‘healthy and active’

Birth cause for celebration but things still dire genetically, expert says

UPDATE: One person confirmed dead in Port Alberni motor vehicle accident

Rural residential road remains closed as RCMP, coroner investigate

Good Samaritan rescues cat found in heaps of garbage at B.C. landfill

The cat was abandoned and left to die at the Foothills Boulevard Regional Landfill, the BC SPCA says

Nanaimo council supports borrowing $4.6M for Port Theatre expansion

City councillors pass first three readings of borrowing bylaw

Most Read