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Cenovus Energy Inc CVE


Primary Symbol: T.CVE Alternate Symbol(s):  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

Cenovus Energy Inc
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Post by downwithdotcom1on Jul 18, 2024 11:18am
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Post# 36138419

Cenovus China PSA re-negotiations???

Cenovus China PSA re-negotiations???newsfeed caught my eye about CVE's PSAs in China ie the Liwan gas/oil fields working with CNOOC. These are some of the highest netbacks that CVE has in their over-all portfolio today and were inherited from the HUSKY take-over. I'm a bit concerned as to some of the wording from this somewhat generic statement... see below .It brings back memories when the chinese gov't all of a sudden became critical of the Husky owned PSA terms at that time and in the end, unitlaterly imposed lowered returns for Husky (the only relief was that they were not as severe as 1st predicted)..is this just a blip or something more??? dwdc


"Recently, there have been discussions about re-negotiating terms related to their operations in China. These negotiations are likely focused on optimizing production and financial terms to better align with current market conditions and strategic goals"
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