Cenovus Energy Inc. said on Jan. 8 that winter storms and severe cold weather at the company’s U.S. and Canadian operations, unplanned operational “challenges” and third-party pipeline outages were among factors effecting refining throughput and availability.
As a result, downstream throughput was significantly reduced in December. Cenovus now expects fourth-quarter 2022 downstream throughput in Canada to range from 90,000 bbl/d to 95,000 bbl/d and in the U.S. by 370,000 bbl/d to 380,000 bbl/d.
The Lloydminster Refinery in Alberta, Canada, has continued to run well through December and into January. However, the company’s refineries in the U.S. and the Lloydminster Upgrader experienced various degrees of unplanned operational issues, including the weather and the pipeline outages.
Cenovus’ Lima refinery in Ohio is now operating at full rates. The Lloydminster Upgrader and Borger Refinery in Borger, Texas, are each expected to return to full rates by about mid- January.
The Wood River Refinery in Roxana, Illinois, is operating at approximately 65% capacity, the company said. It is expected to continue to increase rates through the first quarter.
Recommended Reading
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.