Husky Mulls Sale of Non-Core Downstream Assets

Posted On January 11th, 2019 - 4:39 pm | by Oil and gas press

Husky Energy (TSX:HSE) announced it will undertake a strategic review and will potentially sell its Canadian retail and commercial fuels business and its Prince George Refinery.

Husky’s 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 potential disposition is being undertaken independent of the outcome of Husky’s proposed acquisition of MEG Energy.

“Our retail network and the Prince George Refinery are excellent assets, with exceptional employees, which have made solid contributions to Husky over the years,” CEO Rob Peabody said. “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 businesses will be highly marketable, attracting strong interest and valuations. Husky delivers value to its customers and we anticipate that high level of quality and service will continue whether or not the businesses are sold.”

Source / More : Husky Energy

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