Cenovus Energy Inc T.CVE

So much for production expansion plans

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Tarsand companies like SU, CVE etc. maybe should think twce about any ramps in view of this news. Maybe TMX won't even get completed?

>>>Cost of Trans Mountain pipeline expansion soars 70% to $21.4 billion The federal government said Friday it will not put more money toward the Trans Mountain pipeline expansion in spite of a newly disclosed price tag for the project that comes in 70 per cent higher than expected. Deputy Prime Minister Chrystia Freeland said Friday that Trans Mountain Corporation — the Crown corporation that owns the massive oil pipeline — will need to secure third-party funding to complete the project, either through banks or public debt markets.


https://www.cbc.ca/news/canada/calgary/trans-mountain-pipeline-expansion-calgary-1.6357174

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"the government has engaged BMO Capital Markets and TD Securities to provide financial advice on the project and has been assured by both parties that the project remains commercially viable." Pembina has a partnership with an indigenous group fto acquire TMX.  The government has provided the indigenous groups portion of the costs and Pembina will now have to provide theirs.