TSX:CVEOil and Gas
How Investors Are Reacting To Cenovus Energy (TSX:CVE) Rising Venezuelan Heavy Oil Competition Risks
In recent days, Cenovus Energy has faced renewed pressure after the U.S. capture of Venezuela’s president raised the prospect of higher Venezuelan heavy oil exports competing with Canadian barrels in U.S. refineries.
At the same time, Cenovus’s integration of MEG Energy and a streamlined refining footprint could provide some insulation against long-term shifts in heavy oil trade flows.
We’ll now examine how the potential resurgence of Venezuelan heavy oil supply could alter Cenovus...