November 1, 2010 / 7:00 PM / 7 years ago

UPDATE 1-Husky completes 2-month oil upgrader turnaround

* Completes maintenance outage at 82,000 bpd plant

* Will take 1-2 wks to return to full output

CALGARY, Alberta, Nov 1 (Reuters) - Husky Energy Inc (HSE.TO) said on Monday it has completed two months of maintenance at its Lloydminister heavy oil upgrader, an outage that market sources said contributed to steeper heavy crude price discounts.

Production will return to normal over the next one to two weeks at the 82,000 barrel a day facility, which is on the Alberta-Saskatchewan border, Husky spokesman Graham White said in an email.

The upgrader turns heavy crude into refinery-ready light synthetic oil. The scheduled upkeep began in late August.

Traders had said the outage was one in a long list of factors that weighed on Canadian heavy oil prices in August through October. However, the market was most affected by the shutdowns of two Enbridge Inc (ENB.TO) oil pipelines in the U.S. Midwest.

Shares in Husky were off 4 Canadian cents at C$25.28 on the Toronto Stock Exchange. Interests controlled by Hong Kong billionaire Li Ka-shing own more than 70 percent of Husky.

$1=$1.02 Canadian Reporting by Jeffrey Jones; editing by Rob Wilson

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