Reports from Reuters and Platts say that the parent company of the Come By Chance Refinery may sell off its Canadian assets.
The state-owned oil company in South Korea, Korea National Oil Corporation, is considering selling Canada-based Harvest Operations.
The company bought Harvest in 2009.
An official is quoted as saying the company is trying to improve its financial situation, having lost a reported $720 million in 2012.
Reports indicate that several parties have shown interest in buying Harvest.
The company has three oil and gas fields in western and central Canada, in addition to the Come By Chance refinery.
The refinery pumps out 115,000 barrels a day.