Canada's Cenovus Energy to Spend 15% Less in 2015



Reuters

Dec 11 (Reuters) – Cenovus Energy Inc , Canada's No. 2 independent oil producer, said it plans to reduce capital spending by about 15 percent in 2015 as global oil prices plunge.

Cenovus Energy said capital investment would be between C$2.5 billion ($2.18 billion) and C$2.7 billion next year.

The company expects to spend C$3.0 billion to C$3.1 billion this year. ($1 = C$1.1470) 

(Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza)



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