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)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Most Popular Articles