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Cenovus eyes Asia market for crude oil as threat of U.S. tariffs looms over energy sector

Cenovus Energy Inc. Plans to maintain spending despite the threat of U.S. tariffs, which may lead to a rebalancing of oil shipments away from the United States according to CEO Jon McKenzie.
U.S. President Donald Trump's tariffs on Canadian imports are currently on hold until March, having previously included a 10 percent tax on Canadian energy products.
Cenovus reported a profit of $146 million for the last quarter, a decline from $743 million the previous year, with net debt increasing to $4.6 billion, attributed to lower prices and higher inventory levels.
The Narrows Lake pipeline is projected to add 30,000 barrels per day of production starting in mid-2025, while the West White Rose project is 88 percent complete and expected to produce oil in 2026.

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Fort McMurray Today

Tariffs could force ’rebalancing away’ from U.S. for oil exports: Cenovus

2 days ago·Fort McMurray, Canada

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CBC News

Tariffs could force 'rebalancing away' from U.S. for oil exports, says Cenovus

The threat of U.S. tariffs on Canadian energy won't affect planned spending by Cenovus Energy Inc., but the company says such levies may prompt a "rebalancing away from the United States" when it comes to where it ships its oil.

2 days ago·Canada

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Global News

Tariffs could force ‘rebalancing away’ from U.S. for oil exports: Cenovus CEO

Speaking on Cenovus's fourth-quarter earnings call on Thursday, president and CEO Jon McKenzie said the tariffs could affect "so many of the variables that impact our cash flow."

2 days ago·Toronto, Canada

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The Globe & Mail

Cenovus eyes Asia market for crude oil as threat of U.S. tariffs looms over energy sector

The Calgary-based company’s shares were down 4.5 per cent in mid-morning trading Thursday as it posted a fall in fourth-quarter profit

2 days ago·Canada

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canadanewsvideo.com

Tariffs could force rebalancing away from U.S. for oil exports: Cenovus CEO #CanadaRenewableEnergy #CanadianGreenEnergy #CanadianOilAndGas

The threat of U.S. tariffs on Canadian energy won’t affect planned spending by Cenovus Energy Inc., but the company says such levies may prompt a “rebalancing away from the United States” when it comes to where it ships its oil. U.S. President Donald Trump’s plan to slap widespread tariffs on U.S. imports of Canadian goods is on hold until March. Trump had previously signed an executive order that would impose a 10 per cent tax on Canadian energ…

2 days ago

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