Canadian oil and gas producer Husky Energy Inc said it will conduct a strategic review and is considering a sale of its non-core downstream assets, Reuters reported.
The company said the assets would include its Canadian retail and commercial fuels business and its Prince George Refinery.
The move comes as Husky intends to focus on its core assets in Atlantic Canada and the Asia Pacific region.
Chief Executive Officer Rob Peabody said the decision follows the company’s plans to aligns its heavy oil and downstream businesses to form one integrated corridor.
Husky’s retail and commercial network consists of over 500 stations, travel centres, and bulk distribution facilities from British Columbia to New Brunswick.
The company’s Prince George Refinery has a capacity of 12,000 barrel-per day and supplies refined products to retail outlets in the central and northern regions of British Columbia.
The Calgary, Alberta-based company said the potential disposition is being undertaken independent of the outcome of Husky’s proposed acquisition of rival MEG Energy Corp.
Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber
