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Cenovus Energy Inc T.CVE

Alternate Symbol(s):  CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.


TSX:CVE - Post by User

Bullboard Posts
Comment by oilandgasmickon Nov 11, 2020 10:39am
197 Views
Post# 31877043

RE:RE:RE:Looks Good

RE:RE:RE:Looks GoodHi Wilkie:

Yes, you are right, there was a dispute a few years ago where the Chinese threatened to break the contract. It was resolved with some relatively small adjustments (IIRC)  but of course when you are dealing with the Chinese government (especially in their own back yard) then there is a definite risk that your assets can be appropriated overnight.

The problem for the Chinese is that once you do that then its tough to imagine that anyone else will ever invest any capital again especially given the fact that energy capital has become relatively scarce and very selective.

Yes the risk factor is one reason why Alex might be thinking of exiting and sticking with the N American corridor but then again 13 bucks for an MCF versus 2 bucks in Canada is very attractive.

Heavy oil centered firms are not really "explorers" and at the end of the day are more like manufacturing companies than traditional O&G firms. That said, its not as if heavy oil production, especially with Biden coming in has risks of its own. This "carbon tax at the border" won't help.
Bullboard Posts