Cenovus Energy, one of Canada’s biggest oil and gas companies, expects to spend more capital next year compared to 2023 to boost upstream production and capture better margins in the downstream segment. In a corporate update on Thursday, Cenovus Energy said that its 2024 budget entails capital investments of US$3.3 billion-US$3.7 billion (C$4.5 billion and C$5.0 billion), “delivering disciplined capital investment and balancing growth of the company’s base business with meaningful shareholder returns.” The investment…
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