Husky Energy said it has put a short term hedging plan in place for a portion of its oil production.
The company said the objective of the plan is to support the delivery of the 2016 business plan by limiting downside price exposure in the current low oil market.
Both the Lima Refinery and the company’s partner-operated refinery in Toledo will undergo major turnarounds in the first half of this year.
In a statement Husky said the move meant it would not have the benefit of “full upstream and downstream integration” during the period.
The short term hedging plan is expected to conclude in mid-year 2016.