Cenovus signs rail deals to transport oil to U.S. Gulf Coast
Cenovus Energy Inc (CVE)
Last cenovus energy inc earnings: 4/29 06:00 am
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Source: GlobeNewswire
CALGARY, Alberta, Sept. 26, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has signed three-year deals with major rail companies to transport approximately 100,000 barrels per day (bbls/d) of heavy crude oil from northern Alberta to various destinations on the U.S. Gulf Coast. The agreements involve moving oil with CN from Cenovus's Bruderheim Energy Terminal starting in the fourth quarter of 2018, and with CP through USD Partners' terminal in Hardisty, Alberta starting in the second quarter of next year, both ramping up through 2019. A train being loaded at Cenovus's Bruderheim Energy Terminal. “Moving crude by rail is part of a portfolio approach we take to transporting our product to market,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “Our r
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