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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Growing Canadian oil exports to U.S. bittersweet for producers as price discount bites

The American Petroleum Institute’s recent claim that the United States has “become a global superpower on energy” may have given many in Canada cause for even more concern than they have already experienced lately.

The API can be forgiven for its chest-beating as its boast is backed by declining U.S. energy imports and the oil and gas gushing out of a number of light-shale plays dotted across the country.

Read more: http://tinyurl.com/aug6d6q