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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Council meetings now closed to the public in Chilliwack

Changes comply with provincial orders for no public gatherings and help development applications

Chilliwack elementary schools roll parades through their neighbourhoods, past students’ homes

Unsworth and Central are two of many schools trying to connect teachers with students in fun way

Kinneman appointed CAO of the Fraser Valley Regional District

Her ‘experience and connection with the staff and FVRD partners was unparalleled’ says board chair

Chilliwack school district rolls out next year’s budget, expects COVID-19 costs to change things

Public is being encouraged to connect with the district with any questions about 2020/2021 budget

Chilliwack residents upset by blasting ‘nightmare’ in their hillside neighbourhood

Little Mountain neighbour says blasting ‘unconscionable’ while they’re following advice to stay home

UPDATE: Canadians awake to extra COVID-19 emergency benefit money, feds clarify changes

The CRA and federal officials are working to clarify the confusion around payments

B.C. sorting medical equipment sales, donation offers for COVID-19

Supply hub has call out for masks, gowns, coronavirus swabs

B.C. records five more deaths due to COVID-19, 45 new cases

A total of 838 people have recovered from the virus

Major crimes investigating sudden death of North Okanagan child

The 8 year old was flown to Kelowna General Hospital and died hours later

BC institution has highest number of positive results for COVID-19

11 inmates in Mission test positive for coronavirus, more than any other federal prison in Canada

Easter Bunny added to B.C.’s list of essential workers

Premier John Horgan authorizes bunny to spread “eggs-ellent cheer” throughout province

Travellers returning to B.C. must have self-isolation plan or face quarantine: Horgan

Premier John Horgan says forms must be filled out by travellers

More than 400 animals have been adopted amid pandemic: B.C. SPCA

People are taking this time of social distancing to find a loyal companion through the animal welfare group

Most Read