Here is the article.
Cenovus Energy Inc. (TSX:CVE). Unchanged at $5.40. A year after construction was allowed to restart on the Trans Mountain pipeline expansion, its chief executive says the project is on budget and on schedule for completion by the end of 2022. The project is advancing as expected despite challenges including the COVID-19 pandemic, a global slump in demand for fuel, a $5.2-billion rise in its estimated cost to $12.6 billion in February and ongoing protests by opponents, said CEO Ian Anderson in an interview. The expansion project is designed to triple the capacity of the existing pipeline between Edmonton and a shipping terminal in Burnaby, B.C., to about 890,000 barrels per day of products including diluted bitumen, lighter crudes and refined fuels such as gasoline. Calgary-based Cenovus Energy Inc. used Trans Mountain this summer to collect oil from Alberta to fill an oil tanker in Burnaby and ship it through the Panama Canal to an Irving Oil refinery on the other side of the country in Saint John.
No comments:
Post a Comment