The Vancouver Business Thread

[officedweller]

Chevron weighs selling off Western Canadian assets
Emily Lazatin
June 16, 2016 09:21 pm
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In an email, Spokesperson Adrien Byrne says no official decision has been made to sell, but that the company is soliciting “expressions of interest” for its refining and marketing assets in British Columbia and Alberta.

This means everything but its Lubricants business, along with its interest in the Kitimat LNG project and Canadian upstream assets, could be up for sale.

And potential buyers appear to already be sniffing around. Byers states the company has already received “indications of interest.”
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http://www.630ched.com/syn/112/193572/chevron-weighs-selling-off-western-canadian-assets


See also:

Chevron looking for potential buyers
Retail gas stations and Burnaby refinery could be for sale

Jennifer Moreau | Burnaby Now
June 16, 2016 04:30 PM

Chevron Canada Ltd. is testing the waters to see if anyone is interested in buying the company’s refining and marketing assets, which means the Burnaby refinery could be up for sale.

Chevron spokesperson Adrien Byrne confirmed the news with the NOW.

“Chevron Canada Ltd. has made a decision to solicit expressions of interest to purchase our refining and marketing assets,” he said. “It’s really scoping (out) the market interest in the assets.”

Those assets include the Burnaby refinery, which is the last large-scale refinery operating on the West Coast, processing 55,000 barrels of oil per day.

According to Byrne, Chevron is soliciting interested potential buyers for the Burnaby refinery, Chevron’s cardlock stations (where commercial vehicles fill up with fuel), Chevron gas stations and marine assets. The move doesn't neccessarily mean Chevron will sell the refinery; the company is just testing the market to see if there are any interested buyers.
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http://www.burnabynow.com/news/chevron-looking-for-potential-buyers-1.2280982