13:44:08 EDT Wed 16 Jul 2025
Enter Symbol
or Name
USA
CA



Cenovus Energy Inc
Symbol CVE
Shares Issued 1,823,998,476
Close 2025-02-21 C$ 20.75
Market Cap C$ 37,847,968,377
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Globe/AP say Cenovus aims to send more crude to Asia

2025-02-21 07:43 ET - In the News

The Globe and Mail reports in its Friday, Feb. 21, edition that Cenovus Energy will likely send more crude to Asia should the United States' threat of a 10-per-cent tariff on Canadian energy imports be realized. An Associated Press dispatch to The Globe reports that energy imports were among the many tariff targets of U.S. President Donald Trump when he took office, though he granted a 30-day pause earlier this month and it is unclear what will happen when that is up in early March. While there is little political or market appetite to impose export restrictions in response, Canadian producers are nonetheless looking at alternative plans for their barrels to avoid the worst financial hit. In the case of Calgary-based Cenovus that means Asia, said Geoff Murray, executive vice-president of commercial operations, on Thursday. The expanded Trans Mountain Pipeline System is running at capacity for contracted volumes, with the destination of the oil that hits the West Coast split about 50/50 between Asia and California, Mr. Murray told analysts on an earnings call. Mr. Murray said tariffs, however, would mean an economic rebalance that tips further toward Asia.

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