02:46:08 EDT Wed 16 Jul 2025
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Cenovus Energy Inc
Symbol CVE
Shares Issued 1,823,115,165
Close 2025-03-21 C$ 20.32
Market Cap C$ 37,045,700,153
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Globe says MEG, rivals may give up on carbon capture

2025-03-24 07:44 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Saturday edition that when most of Canada's major oil-and-gas companies sent an open letter to federal party leaders last week calling for a sweeping reduction of regulatory obstacles, they made only passing reference to the technology on which they have long pinned their sustainability hopes -- carbon capture and storage (CCS). The Globe's Adam Radwanski writes they were signalling that many of them are setting aside the carbon-capture dream for the foreseeable future. It came in the letter's call for Ottawa to end their involvement in industrial carbon pricing and leave the matter entirely to the provinces. Heading into a federal election campaign in which removing barriers to economic competitiveness and especially resource development will be a major theme. Last week Prime Minister Mark Carney was flirting with scrapping the government's planned cap on oil-and-gas sector emissions, despite saying during this winter's Liberal leadership campaign that he would keep it. Oil-sands giants' plans have stalled, as the Pathways Alliance has unsuccessfully tried to negotiate many billions of dollars in carbon-credit guarantees with Ottawa.

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