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.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
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.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
CFO/ Senior Financial Manager
Expertise: Accounting|Financial Analyst
Location: Carrizo Springs, TX
 
Sr. Accounting Specialist- Revenue, Severance Tax
Expertise: Accounting
Location: Houston, TX
 
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours