Cenovus Energy Profit Falls 4%

Reuters

Oct 23 (Reuters) – Cenovus Energy Inc, Canada's No.2 independent oil producer, said its quarterly profit fell 4 percent, hurt by an unplanned outage at a refinery.

Net income fell to C$354 million, or 47 Canadian cents per share in the third quarter ended Sept. 30, from C$370 million, or 49 Canadian cents per share, a year earlier.

Operating profit, which excludes most one-time items, rose 19 percent to C$372 million, or 49 Canadian cents per share.

Operating cash flow from refining fell 53 percent to C$64 million due to an unplanned coker outage in July at its Borger Refinery, Texas and a planned turnaround at the Wood River Refinery in Illinois.

(Reporting by Scott Haggett in Calgary and Ashutosh Pandey in Bangalore; Editing by Joyjeet Das)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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