Cenovus Energy To Boost Energy Production 19%

Canada’s Cenovus Energy will boost its energy production by 19% over the next five years, in line with pipeline capacity growth, Cenovus CEO Drew Zieglgansberger said at the company’s annual investor day. Cenovus has plants to lift production by 150,000 boepd to 950,000 boepd by 2028, the CEO said. For now, Canada’s heavy oil, produced by Cenovus Energy, Canadian Natural Resources, Suncor, and Repsol, trades at a discount to the U.S. benchmark WTI due to the country’s limited pipeline capacity to export it to foreign markets—namely,…