home Latest News Canada's Cenovus Energy quarterly loss widens – Reuters Africa

Canada's Cenovus Energy quarterly loss widens – Reuters Africa

This post was originally published on this site

Feb 13 (Reuters) – Oil sands producer Cenovus Energy Inc posted a wider quarterly loss on Wednesday, hurt by lower production and Canadian crude oil prices.

Total production fell to 432,713 barrels of oil equivalent per day from 480,497 boe/d. Analysts on average were expecting Cenovus to produce about 451,000 boe/d, according to IBES data from Refinitiv.

Net loss widened to C$1.35 billion ($1.02 billion), or C$1.10 per share, in the fourth quarter ended Dec. 31, from C$776 million, or 63 Canadian cents per share, in the year-ago period. ($1 = 1.3231 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Shailesh Kuber)