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Cenovus Energy (CVE +1.5%) CEO Brian Ferguson says it has refining capacity, supply...
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Thursday, January 24, 3:59 PM ETCenovus Energy (CVE +1.5%) CEO Brian Ferguson says it has refining capacity, supply arrangements and hedging contracts in place to deal with 90% of its exposure to deeply discounted Canadian heavy crude oil prices this year. CVE and JV partner Phillips 66 also are working on ways to "debottleneck" the 362K bbl/day Wood River refinery to increase its capacity to process heavy crude by 5%-10%.
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