Current CVE:CA Stock Info

Canada is hurting for takeaway capacity—the industry needs pipelines to take its oil and gas production to market, or more locomotive hauling capacity—or both.

Cenovus Energy Inc. (ticker: CVE) said it has reduced production rates due to pipeline constraints and a lower price for Canada’s oil.

Cenovus is storing excess barrels in its reservoirs due to wider than normal light-heavy price differentials, as well as the slow pace of the ramp-up in crude-by-rail export capacity in Alberta.
Temporary solution: store oil in the oil sands reserv...

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