RY 175.42 -0.2162% SHOP 157.15 -0.958% TD 79.04 0.0886% ENB 61.42 0.7711% BN 86.09 -0.3934% TRI 231.36 0.0562% CNQ 47.61 0.8046% CP 105.71 -1.4083% CNR 154.12 -1.2811% BMO 133.23 -0.2396% BNS 77.09 -3.3839% CSU 4762.73 -0.5755% CM 89.48 -0.633% MFC 45.25 -0.2645% ATD 82.67 -0.4336% NGT 58.69 2.2296% TRP 68.72 0.7034% SU 54.51 -1.1067% WCN 268.52 0.1492% L 186.4 1.1998%
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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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