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Cenovus Energy posts higher profit on crude price rally

Cenovus Energy posts higher profit on crude price rally

Reuters · 07/28/2022 06:06
Cenovus Energy posts higher profit on crude price rally

- Cenovus Energy Inc CVE on Thursday reported a eleven-fold surge in second-quarter profit, helped by rising energy prices after the Russian invasion of Ukraine.

The Calgary, Alberta-based company reported earnings of C$2.43 billion ($1.90 billion), or C$1.19 Canadian cents per share, for the three months ended June 30, compared to a profit of C$224 million, or 11 Canadian cents per share, a year earlier.


($1 = 1.2815 Canadian dollars)


(Reporting by Shariq Khan; Editing by Shailesh Kuber)

((Shariq.Khan@thomsonreuters.com; Twitter: @shariqrtrs;))