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
Trudeau acknowledges charges in Nijjar killing, calls for commitment to democracy
Prime Minister Justin Trudeau has acknowledged the charges laid Friday in relation to the murder of B.C. Sikh activist Hardeep Singh Nijjar.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Bodies recovered in Mexico likely 2 Australians, 1 American who went missing: officials
Three bodies recovered in an area of Baja California are likely to be those of the two Australians and an American who went missing last weekend during a camping and surfing trip, the state prosecutor’s office said Saturday.
Princess Anne lays wreath at B.C. veteran's cemetery; receives 21-gun salute
Princess Anne paid tribute to veterans buried at a cemetery in British Columbia today, laying a wreath to honour the more than 2,500 military personnel and family members buried there.
Mystik Dan wins the 150th Kentucky Derby at Churchill Downs in a three-horse photo finish
Mystik Dan won the 150th Kentucky Derby in a photo finish, edging out Forever Young and Sierra Leone for the upset victory.
'I just can't believe that it took so long': Body found in wreckage 3 months after deadly fire
A man accused of arson in a January Old Strathcona apartment fire is expected to be charged with manslaughter after a body was discovered in the burned building late last month.
Quebec police hand out hundreds of tickets to Hells Angels and other bikers before 'first run' meeting
Quebec provincial police handed out hundreds of fines to Hells Angels members and other supporting motorcycle clubs who met for their 'first run' in a small town near Sherbrooke, Que.
Work stoppage possible as WestJet issues lockout notice to maintenance engineers' union
A lockout notice issued by WestJet to a union representing aircraft maintenance engineers could result in a work stoppage next week.
London Drugs begins 'gradual reopening' on 7th day after cyberattack
Almost a week after all London Drugs stores across Western Canada abruptly closed amid a cyberattack, they began a "gradual reopening" on Saturday.