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


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)


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.