Sectors News Results

  • Cenovus posts third straight quarterly loss as virus dents oil demand

    Cenovus Energy Inc (CVE) reported its third straight quarterly loss on Thursday, just days after announcing a buyout of rival Husky Energy Inc (HUSKF), as the pandemic-driven oil crash continues to weigh on the oil industry. Cenovus kicked off consolidation in the Canadian energy patch with a $3.6 billion deal to buy Husky, and said it plans to cut up to a quarter of the combined workforce.

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