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Terminal News

Husky Energy considering sale of non-core downstream assets

Husky Energy considering sale of non-core downstream assets
Husky Energy is considering selling its Canadian retail and commercial fuels business as well as its Prince George refinery as it embarks on a strategic review.

The decision to review and consider a sale of non-core downstream assets comes as it increasingly focuses on core assets in its integrated corridor and on its offshore business in Atlantic Canada and the Asia Pacific region.

The company's retail and commercial network consist of more than 500 stations, cardlock operations and bulk distribution facilities from British Columbia to New Brunswick.

The 12,000 barrel per day refinery processes light oil into low-sulphur gasoline and ultra-low sulphur diesel, along with other products.

CEO Rob Peabody says: 'Our retail network and the Prince George Refinery are excellent assets, with exceptional employees, which have made solid contributions to Husky over the years. However, as we further align our heavy oil and downstream businesses to form one integrated corridor, we've taken the decision to review and market these non-core properties.

'We expect the business will be highly marketable, attracting strong interest and valuations.'



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