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
Spectacular aurora light show to be seen across Canada Friday night
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
McGill University seeks emergency injunction to dismantle pro-Palestinian encampment
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
U.S. says Israel's use of U.S. arms likely violated international law, but evidence is incomplete
The Biden administration said Friday that Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
Barron Trump declines to serve as an RNC delegate
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
Mother assaulted by stranger while breastfeeding baby in her car: Vancouver police
A person was arrested in East Vancouver Thursday after allegedly entering a car while a mother was breastfeeding her four-month-old boy.
'We have laws': Premier Smith says police action justified in Calgary
The actions, including the decision to use non-lethal force, to disperse pro-Palestinian protesters from the University of Calgary campus were justified, Alberta Premier Danielle Smith said Friday.
'State or state-sponsored actor' believed to be behind B.C. government hacks
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.