Cenovus to Cut Spending, Hold Output Steady

摘要

Canadian oil sands producer Cenovus will reduce its capital spending by nearly 20% in 2016 while holding oil production steady as it looks to ride out low prices that are making life sour for upstream operators in Canada and around the world. Cenovus said it plans to spend about C$1.4 billion to C$1.6 billion (US$1.0 billion to US $1.2 billion) next year, down about 19% from this year's projected capex.