SUNCOR WEIGHS SALE OF PETRO- CANADA STATIONS: SOURCES

Suncor Energy Inc. is weighing the sale of its Petro- Canada retail gasoline- station business in order to monetize the asset, according to two sources familiar with the situation. The move comes after Imperial Oil Ltd,, majority- owned by Exxon Mobil Corp., agreed earlier this year to sell 497 Esso gas stations for $ 2.8 billion. Suncor, Canada’s biggest energy company, may be able to draw a similar valuation, the sources said, which would peg the Petro- Canada retail gas stations at close to $8.4 billion. Petro- Canada operates about 1,500 gas stations across Canada and is one of the biggest players in the country. Suncor spokeswoman Sneh Seetal said selling the stations is not part of the company’s current asset divestment plan. While Suncor would like to sell the whole asset to one party, it is more likely the gas stations will be sold to multiple buyers, given the size of the portfolio, the sources said. The buyers of Imperial’s Esso stations were Alimentation Couche-Tard Inc., 7-Eleven Canada Inc. and Parkland Fuel Corp.