Cenovus Energy Inc.

With so many livelihoods dependent on oil, all eyes here are on the expected opening this week of the Trans Mountain pipeline expansion, a years-in-the-making megaproject which will soon start shipping Canadian crude to export markets.

Analysts say a dramatic narrowing in the price discount for western Canadian heavy crude in the second quarter of 2023 should mean healthy profits for oilsands producers poised to start reporting their earnings later this week.

Cenovus Energy Inc. chief executive Alex Pourbaix will step down from his CEO role later this year to devote more time to his evolving role as an outspoken champion of Canada's oilsands industry and its decarbonization ambitions.

With oil and gas companies under increased scrutiny for how they choose to use their record-breaking profits in 2022, the chief executive of Cenovus Energy took aim at critics by highlighting the billions of dollars the industry is expected to contribute in taxes and royalties this year.

Experts say a joint strategy by Canada's largest oilsands producers to reach net zero greenhouse gas emissions by 2050 will help speed up innovation and drive further investment into the industry.

Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road.

Prime Minister Justin Trudeau says news that one of the world's largest investment funds will exclude four Canadian oilsands producers from consideration for investing is part of a continuing shift in global attitudes for which oil companies will have to adjust.

A federal financing relief package for large Canadian companies was applauded by the oil and gas sector and the Alberta government on Monday, May 11, 2020, despite conditions that could link the aid to an individual company's climate change goals.

Imperial Oil Ltd. is slowing or deferring maintenance work throughout its operations as it tries to ensure employee safety in the wake of a COVID-19 outbreak that has infected 83 workers at its Kearl oilsands mine in northern Alberta.

Budget cutting in response to the twin challenges of COVID-19 demand destruction and low oil prices mean the world's oil and gas industry will likely spend less on renewable energy going forward.

Analysts expect to see lower Canadian oil production this year as producers follow the example of Cenovus Energy Inc. in slashing capital spending budgets amid tumbling oil prices.

Indigenous leaders say they hope other companies will follow the lead of Cenovus Energy Inc. after it pledged to give $10 million per year over the next five years to support housing in six northern Alberta communities near its oilsands operations.

Cenovus Energy Inc. says it will add as much as 70,000 barrels per day of oilsands output following the Alberta government's decision to ease production curtailments for producers that add crude-by-rail capacity.

Oilsands producer Cenovus Energy Inc. is rewarding its shareholders with a 25 per cent increase in its dividend while tightening its spending plans and maintaining "modest" production growth expectations over the next five years.

Higher oil prices spurred by an attack on Saudi Arabian oil facilities boosted the Canadian energy sector on Monday, September 16, 2019, but are expected to result in higher fuel prices for consumers.