Cenovus forecast upstream production between 805,000 and 845,000 barrels of oil equivalent per day for 2025, with the midpoint higher than analysts’ estimates of 820,140 boepd
on Thursday forecast higher oil and gas production for 2025, expecting to benefit from new projects coming online.
“Cenovus will deliver important milestones on our major growth projects in 2025, including achieving first oil from Narrows Lake, installation of the West White Rose offshore facilities and commencement of drilling, and preparations for first steam at the Foster Creek optimization project,” said CEO Jon McKenzie.
The Canadian firm forecast downstream throughput for 2025 between 650,000 and 685,000 barrels per day , compared with 630,000 bpd to 670,000 bpd expected this year, with refinery utilization of 90 per cent to 95 per cent.
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