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.

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

Just Posted

Interior Health leading the way with innovative therapy for stroke patients

Percentage of ischemic stroke patients who received treatment has risen dramatically

The marrying of magic and dance – Celtic Illusion

Tickets still available for the Celtic Illusion show which starts at 8 p.m. this Saturday at SOEC

Gauthier will Bring Home the Noise for Children’s Showcase

Zac Gauthier is coming the Cleland Theatre and will Bring Home the Noise on March 8.

Lessons in kindness and sharing at OSNS centre

Penticton children donate birthday money to OSNS Child and Youth Development Centre

Racist incidents on the rise in the Okanagan as coronavirus spreads

UBC professor not surprised by recent incidents

VIDEO: Minister says consider coronavirus outbreak when planning for spring break

Foreign Affairs minister points to rash of new cases appearing in places like Italy and Iran

Donations pour in for family who lost father, son in fatal crash on B.C. highway

Mike Cochlin and sons Liam and Quinn were travelling on Highway 5A

Beer and burgers to raise cash for Vernon man fighting cancer

Fundraiser hosted in honour of Garnet the Great to send him to special treatment centre

HERGOTT: Idiocy of distracted driving

Paul Hergott is a personal injury lawyer based in West Kelowna

Kelowna man arrested after all-night crime spree

Shawn Bell, 33, is facing seven charges for incidents committed within a 24-hour span

Hollywood actor Chris Pratt shows Kamloops love on social media

The filming of Jurassic World 3 is underway in Merritt and area

B.C. man who pulled a gun on off-duty cop gets two years in prison

Encounter also led police to a home where 100 guns and explosives were found

Flip-flopping pleas in Surrey woman’s 2018 murder in West Kelowna

Following an shocking guilty plea on Feb. 25, Tejwant Danjou applied to retract that plea on Feb. 26

Neskonlith chief lays blame for ongoing protests at feet of Justin Trudeau

Secwepemc leader hopes others will follow CP’s lead in asking prime minister to talk to Wet’suwet’en

Most Read