FCL selling off western Canadian crude oil assets, retaining Regina refinery complex
Federated Co-op is selling its crude oil assets across Western Canada, but will be retaining ownership of the Regina refinery.
In a statement to CTV News, Federated Co-operatives Limited (FCL) confirmed it has hired the Bank of Montreal to dispose of 550,000 hectares of land that produce 3,000 barrels of oil per day, located in Saskatchewan, Alberta and British Columbia.
In Saskatchewan, the properties are located in the south east, Shaunavon and Dodsland regions.
Despite the major sale, Federated Co-op said the Regina refinery is absolutely not for sale.
“The Co-op Refinery Complex is integral to our business and we are committed to it for the long-term,” the company said in an emailed statement.
FCL is also selling a working interest in the Weyburn-Midale carbon capture, utilization and storage project.
The Co-op is not commenting on the reason for the sale.
CTVNews.ca Top Stories
Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
Deaths of 4 people on Sask. farm confirmed as murder-suicide
The deaths of four people on a farm near the Saskatchewan village of Neudorf have been confirmed a murder-suicide.
George Washington family secrets revealed by DNA from unmarked 19th century graves
Genetic analysis has shed light on a long-standing mystery surrounding the fates of U.S. President George Washington's younger brother Samuel and his kin.
Bus plunges off a bridge in South Africa, killing 45 people. An 8-year-old child is only survivor
A bus carrying worshippers headed to an Easter festival plunged off a bridge on a mountain pass and burst into flames in South Africa on Thursday, killing at least 45 people, authorities said.
Why some Christians are angry about Trump's 'God Bless the USA' Bible
Former U.S. President Donald Trump is officially selling a copy of the Bible themed to Lee Greenwood’s famous song, 'God Bless the USA.' But the concept of a Bible covered in the American flag has raised concern among religious circles.
Sunshine list: These were the Ontario public sector's highest earners in 2023
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
Calgary bridges remain closed due to ongoing police incident
Calgary police have shut down a number of bridges into and out of the downtown core as officers deal with a distraught individual.
Kinew, Poilievre meet at Manitoba legislature, discuss each other's priorities
Premier Wab Kinew and federal Conservative Leader Pierre Poilievre met at the Manitoba legislature Thursday afternoon.
Rainfall warnings of up to 80 mm among weather alerts in effect for 6 provinces
Rainfall warnings of up to 90 millimetres and other alerts have been issued for six Canadian provinces, according to the latest forecasts.