Alberta set to buy rail cars to boost crude shipments [Toronto Globe and Mail (Ontario, Canada)]
Cenovus Energy Inc (CVE)
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Source: Toronto Globe and Mail
Open this photo in gallery Alberta Premier Rachel Notley delivers a speech in Ottawa on Nov. 28, 2018. Adrian Wyld/The Canadian Press Alberta is planning to buy rail cars by early in the new year to move an additional 120,000 barrels of oil a day out of the province, as it considers calls for production cuts to reduce the supply glut that has driven Western Canadian oil prices to bargain-basement levels. Premier Rachel Notley is under pressure to find alternatives to ship Alberta’s oil amid a lack of capacity on pipelines. In addition to adding more rail-car volume, she is considering providing incentives - including granting breaks on future royalty payments - to companies that agree to cut back production now. She is even looking at mandatory production cuts across the industry. Such measures would reduce supply in a bid to allow market prices for oil to rebound. In a speech in Ottawa on Wednesday, Ms. Notley urged the federal govern
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- Cenovus Energy (NYSE:CVE) (TSE:CVE) had its "buy" rating reaffirmed by analysts at TD Securities.MarketBeat
- Wednesday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Cenovus Energy: Assimilating MEG Energy [Seeking Alpha]Seeking Alpha
- Cenovus Energy's 5% Rally and Sector Consolidation News Spark Valuation Debate for 2025 [Yahoo! Finance]Yahoo! Finance
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