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Imperial oil agrees to sell 497 gas station for C$2.8 billion

Imperial oil agrees to sell 497 gas station for C$2.8 billion

Canada's second largest integrated energy company has agreed to sell all of its remaining company-owned Esso gas stations to 5 fuel distributors across Canada. Alimentation Couche-Tard got 280 stations; 7-Eleven Canada purchased 144. The balance were split between Harnois Groupe Pétrolier, Parkland Fuel and Wilson Fuel.

There are approximately 1700 Esso gas stations in Canada. Analysts speculate Imperial will use the funds to make acquisitions in the oil sands or buy back shares.

Alberta sets up yet another advisory committee to diversify the economy

Alberta sets up yet another advisory committee to diversify the economy

Quebec court rules that Energy East hearings can proceed

Quebec court rules that Energy East hearings can proceed

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