Cenovus moving ahead with expansion

While pipeline constraints and large price discounts for Alberta crude are hammering the bottom lines of oilsands producers, Cenovus Energy has the financial flexibility to “power through some of these troughs and continue to move forward,” according to its chief executive.

The firm, which aims to produce 500,000 barrels per day by the end of the decade, sees no reason to slow down its planned gradual expansion.

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