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

COLUMN: 2018 second-largest on record for food bank

Boundary Community Food Bank added 109 new clients last year

Kim Johnson retires from rec department

Johnson had worked at Grand Forks Recreation Department for 25 years

Local students raise salmon in new program

The program typically runs from December to June

Skating club receives donations, to host ice gala

The show kicks off at 7 p.m. tonight

RCMP look into broken window at new Windows of Hope

There were no injuries in the incident

B.C. resident baffled about welcome mat theft

Security footage shows a woman and her dog taking the mat from the property on March 13

Father thanks B.C. Mountie for shooting hoops with kids, ‘changing perspectives’

‘We’re just like everyone else,’ says Surrey officer who stopped to play basketball with kids

2019 BUDGET: As deficit grows, feds spend on job retraining, home incentives

Stronger economy last year delivered unexpected revenue bump of an extra $27.8 billion over six years

Trans Mountain court hearing: B.C. says it won’t reject pipelines without cause

Canada says the proposed amendments to B.C.’s Environmental Management Act must be struck down

Carfentanil found in 15% of overdose deaths in January: B.C. coroner

Carfentanil is 100 times more powerful than illicit fentanyl and used to tranquilize elephants

B.C. father fights for his life after flu turns into paralyzing condition

Reisig has lost all motor skills with the exception of slight head, shoulder and face movements.

B.C. wildfire prevention budget bulked up as dry spring unfolds

Night vision goggles tested for early detection effort

Vernon ordered to reinstate terminated firefighters caught having sex at work

City believes arbitration board erred, exploring options

Dozens of B.C. temperature records smashed as spring brings early warmth

Squamish Airport was the hottest spot in all of Canada on Monday

Most Read