Canada: Petro-Canada not for sale, says Suncor Energy
Suncor Energy is not selling its Petro-Canada gas stations business as part of the company's asset sale plan, a spokeswoman said after Reuters reported that the fuel retailing chain could be up for sale.
For the time being, Suncor Energy, Canada´s biggest energy company, will retain ownership of fuel retailer Petro-Canada, which operates around 1,500 gas stations across the country, reports Bloomberg.
According to Reuters, the sale of Petro-Canada could be worth as much as C$8.4 billion.
“Retail is part of our integrated model as it provides a channel of sale for much of our refinery production,” said Sneh Seetal, spokeswoman for Suncor, in an e-mailed statement.
Suncor Energy and Petro-Canada merged in 2009 forming Canada´s largest energy company and the fifth largest North-American-based company by market value.
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