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
Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
Fair in Ontario, flurries in Labrador: Weather systems make for an erratic spring
"It's a bit of a complicated pattern; we've got a lot going on," said Jennifer Smith of the Meteorological Service of Canada in an interview with CTVNews.ca on Wednesday. "[As is] typical with weather, all of these things are related."
Police tangle with students in Texas and California as wave of campus protest against Gaza war grows
Police tangled with student demonstrators in Texas and California while new encampments sprouted Wednesday at Harvard and other colleges as school leaders sought ways to defuse a growing wave of pro-Palestinian protests.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.