Cenovus looks to rail, barge, pipe to get better price

摘要

London—Canadian producer Cenovus is using a combination of railroads, barges and pipelines to get a higher price for its growing oil production, the company said April 24. The first-quarter price of Canadian benchmark crude Western Canadian Select was at an average discount of US$31.96/b to WTI, or a 49% wider spread than a year ago, the company said in its Q1 earnings statement. The deep discount is due to a lack of takeaway capacity for increasing Canadian oil production.