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Cenovus Energy Inc. Message Board

  • pixsmiler pixsmiler Feb 14, 2013 12:32 PM Flag

    Cdn crude $61.32 in Q4

    The losses will only get worse - there is just to much crude and it has no place to go.

    "The Calgary-based firm declared in a statement that the net loss of C$118M ($118 million), or 16 cents per share, in contrast with profit of C$266M, or 35 cents, a year before. Cenovushit a C$393M impairment related to its Suffield assets, mostly due to projected drops in future natural gas prices.

    According to data compiled by Bloomberg, the price of Canadian heavy crude, produced at oil- sands operations for example Cenovus’s Christina Lake site, dropped 25% to an average of $61.32 a barrel in the Q4 from a year before."

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    • If i were the PM of Canadian, I'd get the Mounties ready to attack if the Keystone isn't approved soon. and I'd also take all the Eskimo leaders to the arctic and set them adift. Canada needs pipeline access for its products, and they should place an embargo on maple syrup until they get what they need.

      Sentiment: Hold

    • what are you talking about? FY2013 H2, differentials will decrease, relative to WTI
      over 3-4million BPD of pipeline capacity is coming online in next 2-3 yrs, starting second half of yr.
      All gulf coast refiners are meant for heavy canadian crude, even if oil drops WTI, Brent, WCS is merge. going forward biggest loosers are eurpoean and middle east oil firms, since brent will come down due to high US & canadian oil,
      winners; refineries, balkan and canadian oil companies
      dude do you research.

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