Husky gas station at 984 South Island Hwy, Campbell River, Feb. 12, 2019.

Husky Energy to sell Prince George oil refinery to Tidewater

The refinery uses crude oil and condensate from B.C. and Alberta

Husky Energy Inc. has agreed to sell its light oil refinery in Prince George, B.C., for $215 million in cash plus adjustments to Tidewater Midstream and Infrastructure Ltd.

Tidewater may also pay up to an additional $60 million over two years under certain contingencies.

The refinery uses crude oil and condensate from B.C. and Alberta to produce about 12,000 barrels per day of low-sulphur gasoline and diesel fuel.

The two Calgary-based companies say the refinery’s employees will be retained after the deal closes.

Tidewater says the Prince George region is generally in short supply of refined products.

READ MORE: Husky Energy looks to sell Prince George refinery, 500 retail locations

Husky will buy 90 per cent of the refinery’s diesel and gasoline capacity for five years, with prices subject to review, to supply its Husky retail gasoline stations and Husky retail partners.

The sale is part of Husky’s plan to focus on a series of physically linked assets in Western Canada as well as its offshore oil and gas production off Canada’s East Coast and in the Asia-Pacific region.

Husky said Friday that it continues to conduct a strategic review of its retail and commercial fuels businesses.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Salmon Arm Golf Club sold to consolidator GolfNorth Properties

Decision to sell unanimously approved by club’s board of directors

Shuswap Community Foundation grants support youth projects

Karen Angove Endowment Fund to benefit Shuswap Area Family Emergency (SAFE) Society

Shuswap resident seeks return of jewelry box containing father’s cremated remains

Sicamous RCMP report handmade box was stolen from a storage locker

Radon levels in new Salmon Arm home a concern

Real-time monitoring shows radon concentration just within federally accepted guideline

Salmon Arm family doctor shortage putting health-care needs at risk

City clinics report having long wait lists, not accepting new patients

Gym enthusiasts invited to get in gear for kids

Spin4Kids Saturday at GoodLife Fitness

Salmon Arm Silverbacks return to top spot in Interior Division

Wednesday night’s game ends in 4-3 loss for Penticton Vees

SilverStar to open Nordic trails Saturday in North Okanagan

25 km of groomed trails are ready to explore by cross-country skiers

Tolko shuts B.C. divisions for two weeks over holidays

Head office to close from Dec. 23-27; two weeks’ downtime runs Dec. 21-Jan. 6

Clothing donation bins added to Salmon Arm landfill, Sicamous transfer station

CSRD partnering with Big Brothers Big Sisters Central and Southern Interior to collect donations

Province working with RCMP to address the force’s B.C. budget cuts

Public Safety Minister Mike Farnworth issues statement following report of RCMP cost-cutting

Louis C.K. accuser ‘infuriated’ by Canadian comedy booker’s defence

Accuser says she did not consent to C.K. undressing and masturbating in front of her

Port Moody mayor says stayed sex assault charge related to ‘awkward date’

Rob Vagramov said charge was related to a string of dates in 2015

UBC conference faces criticism over speaker from Chinese tech company blacklisted in U.S.

The company that has been blacklisted by the U.S. over links to the repression of China’s Muslim minority

Most Read