RY 168.02 -0.2138% TD 84.54 0.583% SHOP 98.44 1.6522% CNR 161.44 -0.4686% ENB 55.37 0.7093% CP 117.35 -0.4074% BMO 116.29 0.5969% TRI 234.8 -0.5% CNQ 43.4 -2.0316% BN 67.06 0.8573% ATD 75.0 -1.1467% CSU 4286.48 0.3286% BNS 70.72 0.6834% CM 83.49 0.9675% SU 49.53 0.4462% TRP 63.27 1.1187% NGT 73.0 1.5299% WCN 252.39 -0.095% MFC 38.15 0.58% BCE 48.11 0.4594%
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Cenovus (TSX:CVE) Plans CAD 4.5-5Bn in Capex in 2025 and beyond for Future Growth
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Highlights
Cenovus Energy Inc. (TSX: CVE) is an integrated oil company based in Alberta, Canada. It also has refining operations in the U.S.
In Q2 2024, the company reported increased revenue of CAD 14,885 million, up from CAD 12,231 million in the previous year, driven by higher upstream and downstream contributions. Operating profit rose to CAD 2,936 million from CAD 2,400 million, supported by the revenue increase. Income before taxes improved to CAD 1,309 million, up from CAD 1,048 million, despite higher depreciation charges. Consequently, net income for Q2 2024 climbed to CAD 1,000 million.
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