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Cenovus Power has reported a decrease second-quarter revenue and it blames decrease manufacturing, partly, on spring wildfires in western Canada.
The Calgary-based oil and fuel producer launched particulars of its quarterly replace on Thursday.
In early June, Cenovus was compelled to evacuate most firm staff from its Christina Lake oilsands operations, south of Fort McMurray, Alta. due to the close by Caribou Lake wildfire.
A steam-assisted gravity drainage pad on the Cenovus Christina Lake oilsands facility, southeast of Fort McMurray, Alta., is proven on April 24, 2024.
THE CANADIAN PRESS/Amber Bracken
On the time, the corporate estimated the diminished oil manufacturing at about 238,000 barrels of oil a day per day.
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In Thursday’s replace, it estimated the entire manufacturing loss from the wildfire at two-million barrels.
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The corporate stated a nicely leak and shut down of its Rush Lake services in western Saskatchewan, and upkeep at different oil manufacturing services, additionally weighed on manufacturing within the second quarter.
Cenovus stated whole upstream manufacturing was 765, 900 barrels of oil per day, in comparison with 800,00 barrels per day within the second quarter final yr.
Web revenue fell to $851 million, or 45 cents Canadian per share within the three months that ended on June 30, 2025.
That’s down from $1 billion or 53 cents per share throughout the identical interval of 2024.
— With information from Reuters and The Canadian Press.
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