Higher oil prices spurred by an attack on Saudi Arabian oil facilities boosted the Canadian energy sector on Monday but are expected to result in higher fuel prices for consumers. Long-suffering Canadian oil and gas stocks were on track to…
Tag: Cenovus
Canadian energy giants take out full-page newspaper ads as federal election looms
Three of Canada’s biggest oilsands producers are going directly to voters today to ask them to “influence the outcome” of big decisions concerning the oil and gas sector as a fall federal election looms. In full-page ads in about 30…
Producers still cautious despite higher Q2 expectations on stronger oil prices
Higher oil prices are expected to boost cash flow for the large Canadian crude producers as they roll out second-quarter results beginning next week, but analysts say the extra money is unlikely to be added to growth budgets. Canadian oil…
Cenovus produces one billionth barrel from oilsands operations in northern Alberta
Cenovus Energy Inc. says its thermal oilsands operations in northern Alberta produced their one billionth barrel of bitumen on Wednesday. The milestone comes about 18 years after Cenovus’ Foster Creek facility was launched in 2001 as the first commercial oilsands…
Cenovus asks investors to vote against emissions target motion at AGM
Oilsands producer Cenovus Energy Inc. is recommending investors at its annual general meeting vote against a shareholder motion requiring it to set greenhouse gas emission targets aligned with the goals of the Paris climate accord. The proposal by the Fonds…
Canadian names among oil and gas shares to be dumped by Norway’s US$1 trillion fund
STAVANGER, Norway — Norway’s US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Chevron.…
Cenovus reports $1.36 billion Q4 loss due to deep discounts on Canadian oil
Cenovus Energy Inc. reported a $1.36-billion loss in its latest quarter as it faced deep discounts for Western Canadian Select oil. The company says the loss amounted to $1.10 per share for the quarter ended Dec. 31, compared with a…
Cenovus plans $1.2 billion to $1.4 billion in capital spending for 2019
Cenovus Energy Inc. is planning total capital spending of between $1.2 billion and $1.4 billion for next year. The plan compares with its guidance for this year of between $1.3 billion and $1.4 billion. READ MORE: Who are the winners and losers…
Who are the winners and losers from the Alberta oil production cut?
Oil production cuts announced by the Alberta government will have the desired outcome of reducing steep discounts on its oil, but it will also create winners and losers, financial analysts say. Shares in the companies most likely to benefit from…
Shares in Cenovus, CNRL soar on news of Alberta crude production cuts
Shares in oilsands companies most likely to benefit from Alberta’s move to curtail crude production starting Jan. 1 are soaring in the wake of Sunday’s announcement by Premier Rachel Notley. In early trading Monday morning, Cenovus Energy Inc. rose as…