07:24:54 EST Sat 24 Feb 2024
Enter Symbol
or Name

Cenovus Energy Inc
Symbol CVE
Shares Issued 1,882,786,392
Close 2023-11-24 C$ 24.09
Market Cap C$ 45,356,324,183
Recent Sedar Documents

Globe says Suncor, rivals await new grant program

2023-11-27 07:36 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Saturday, Nov. 25, edition that Alberta will on Tuesday announce a new grant program to encourage carbon capture projects in the province, as the oil and gas sector faces increasing pressure to reduce emissions. The Globe's Emma Graney writes that the program will be modelled on the Alberta Petrochemicals Incentive Program, which allows for a refundable tax credit of up to 12 per cent of eligible capital costs once projects are operational, according to Premier Danielle Smith. It aims to augment the federal government's planned tax credit for carbon capture, utilization and sequestration (CCUS) projects, which will cover up to 50 per cent of capital costs. Speaking at the Canadian Association of Energy Contractors (CAOEC) State of the Industry luncheon in Calgary Friday, Ms. Smith said the new program will be as broad as possible to encourage extensive adoption of the technology and help reduce emissions from the oil and gas sector. Ms. Smith said her government used the petrochemical program as a model for the new CCUS scheme, because it has worked well to attract companies to Alberta. CAOEC says it welcomes the new program.

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