Toledo Refinery

Through a joint venture, Husky has 50 percent ownership in the BP-operated refinery in Toledo, Ohio. Opened in 1919, the refinery has undergone numerous upgrades and expansions to achieve its current design capacity of 160,000 barrels of crude oil daily.

Employing approximately 500 full-time employees, the refinery converts crude oil into products including gasoline and diesel fuels, aviation fuels, propane, kerosene and asphalt.

In 2008, Husky and BP formed two 50/50 partnerships, a Canadian oil sands partnership operated by Husky and a U.S. refining LLC operated by BP. The Sunrise Oil Sands Project, jointly owned by Husky and BP, is combining the production of bitumen with existing refining. The integrated project solution is considered to be most cost efficient and represents a responsible approach to resource development and environmental stewardship.

The Sunrise Oil Sands Project, located 60 km northeast of Fort McMurray, will use steam assisted gravity drainage (SAGD) technology. Husky estimates that Sunrise contains 3.7 billion barrels of provided, probable plus possible reserves (0.13 billion barrels proved, 1.9 billion barrels probable and 1.7 billion barrels possible, of which Husky has a 50 percent working interest), as of December 31, 2009. Under current regulatory approvals, production is expected to ramp up to 200,000 barrels per day once all phases have been built and are operation in the 2020 timeframe. Pending project sanction by Husky and its partner BP, Phase 1 production is expected in 2014.