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Husky Energy is first to ship Canadian oil to India

  • Husky Energy (HUSKF) announced yesterday it shipped Canada's first-ever batch of oil to India as it and other Canadian producers seek to boost crude exports to more markets outside of the U.S.
  • Husky says it exported 1M barrels of crude to Indian Oil Corp. from its White Rose offshore oil field in eastern Canada late last year, a move it calls a test run and a precursor to increased exports to refiners in India.
  • Separately, Husky reported Q4 net income fell to C$0.18/share, down from C$0.48/share in the year earlier period but better than expected; cash flow declined 19% Y/Y to $1.14B.
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