Oil sands

Canada Day: Why renaming roads and how we tell stories matter for reconciliation

Retrieved on: 
Thursday, June 29, 2023

The recent renaming of the Sir John A. Macdonald Parkway in Ottawa to Kichi Zībī Mīkan (“Great River Road”) comes as Canada Day invites Canadians to define not only where we are, but also who we are in our national imagination.

Key Points: 
  • The recent renaming of the Sir John A. Macdonald Parkway in Ottawa to Kichi Zībī Mīkan (“Great River Road”) comes as Canada Day invites Canadians to define not only where we are, but also who we are in our national imagination.
  • In my field of environmental communication, we learn that how we represent a place can reveal much about the place and even more about who we are and what we value.

Space and place

    • The geographer Yi-Fu Tuan recognized that humans have universal biological, psychological, social and spiritual needs for both space and place.
    • In this light, place is more than a location; it also imbues human experiences, emotions and meanings tied to our environment.

Place and collective identity

    • Environmental psychology suggests place can also become a source of our collective identity.
    • For Canadians, land has become a powerful source of not only attachment but also self-definition, distinction and pride.

Place branding

    • Place branding has important implications in the international arena for political influence, trading relationships and more.
    • Unprecedented interest in Indigenous culture and history shines a spotlight on Canada and its relations with First Peoples.

Depicting place

    • My study, Tar Wars, illustrated how representations of place have mattered to public understandings of Alberta and Canada in light of their stewardship of the Athabasca tar/oilsands.
    • These films called attention to the effects the massive extraction project had on the health, well-being and livelihoods of Indigenous Peoples in affected communities.

Place as inspiration for action

    • If settler Canadians value their home, their place and how it’s perceived here and abroad, then we may pause on the nation’s 156th birthday to imagine how diverse Indigenous Peoples, who have been here since time immemorial, might feel about this place sometimes called Canada.
    • We might choose to take up Ermine’s invitation to create new ethical spaces for engagement.

Cenovus announces 2023 first-quarter results, dividend increase

Retrieved on: 
Wednesday, April 26, 2023

Cenovus has removed Terra Nova production volumes from its 2023 corporate guidance.

Key Points: 
  • Cenovus has removed Terra Nova production volumes from its 2023 corporate guidance.
  • Net debt was approximately $6.6 billion at March 31, 2023, an increase of about $2.4 billion from December 31, 2022.
  • Cenovus has revised its 2023 corporate guidance to reflect the company’s updated outlook for commodity prices, production, throughput and operating costs for the remainder of the year.
  • The following table provides details on planned maintenance activities at Cenovus assets in 2023 and anticipated production or throughput impacts.

Cenovus announces 2023 budget

Retrieved on: 
Tuesday, December 6, 2022

In 2023 Cenovus anticipates total upstream production of between 800,000 BOE/d and 840,000 BOE/d, including the impact of planned turnarounds, which captures the one at Foster Creek deferred from 2022.

Key Points: 
  • In 2023 Cenovus anticipates total upstream production of between 800,000 BOE/d and 840,000 BOE/d, including the impact of planned turnarounds, which captures the one at Foster Creek deferred from 2022.
  • The 2023 budget and throughput guidance assume the Toledo Refinery acquisition closes and the refinery resumes operations by the end of the first quarter of 2023.
  • The incremental IT expenditures included in 2023 G&A are offset by lower corporate capital for IT in 2023 when compared with 2022.
  • The following table provides details on planned turnaround activities at Cenovus assets in 2023 and anticipated production or throughput impacts.

Cenovus Announces 2022 Second-Quarter Financial and Operating Results

Retrieved on: 
Thursday, July 28, 2022

In the second quarter of 2022, Cenovus again delivered strong operating and financial results, driven by the companys continued safe and reliable operating performance and low cost structure, as well as stronger commodity prices.

Key Points: 
  • In the second quarter of 2022, Cenovus again delivered strong operating and financial results, driven by the companys continued safe and reliable operating performance and low cost structure, as well as stronger commodity prices.
  • Total operating margin is the total of Upstream operating margin plus Downstream operating margin.
  • Net debt declined to $7.5 billion as at June 30, 2022, down nearly $900 million from March 31, 2022.
  • The following table provides details on planned turnaround activities at Cenovus assets in 2022 and anticipated production or throughput impacts.

Cenovus announces shareholder returns plan, triples dividend

Retrieved on: 
Wednesday, April 27, 2022

Cenovus will continue to maintain capital discipline, with the five-year business plan outlined at the companys Investor Day in December 2021 remaining in place and instrumental to growing shareholder returns.

Key Points: 
  • Cenovus will continue to maintain capital discipline, with the five-year business plan outlined at the companys Investor Day in December 2021 remaining in place and instrumental to growing shareholder returns.
  • Where the value of share buybacks in a quarter is greater than the targeted value of returns, no variable dividend will be paid for that quarter.
  • Cenovus recorded net earnings of $1.6 billion in the first quarter, compared with a net loss of $408 million in the fourth quarter.
  • The following table provides details on planned turnaround activities at Cenovus assets in 2022 and anticipated production or throughput impacts.

Absolute Emissions From Canadian Oil Sands Are Set to Decline Within Next Few Years Even as Production Grows

Retrieved on: 
Tuesday, April 5, 2022

Entitled The Trajectory of Oil Sands GHG Emissions: 2009-2035, the report by the S&P Global Oil Sands Dialogue says that long-term trends of reductions to the GHG intensity of oil sands production are set to reach an inflection point around 2025.

Key Points: 
  • Entitled The Trajectory of Oil Sands GHG Emissions: 2009-2035, the report by the S&P Global Oil Sands Dialogue says that long-term trends of reductions to the GHG intensity of oil sands production are set to reach an inflection point around 2025.
  • From 2020 to 2035, S&P Global Commodity Insights projects GHG intensity of the Canadian oil sands could decline from 20-28% with some segments seeing much more dramatic reductions.
  • These technologies can have large implications for oil sands thermal extraction emissions and can even result in increased productivity.
  • They show great potential to influence future oil sands GHG emissions and even enhance the level of future production.

Cenovus announces 2021 fourth-quarter and full-year results

Retrieved on: 
Tuesday, February 8, 2022

2 Comparative figures include Cenovus results prior to the January 1, 2021 closing of the Husky transaction and do not reflect historical data from Husky.

Key Points: 
  • 2 Comparative figures include Cenovus results prior to the January 1, 2021 closing of the Husky transaction and do not reflect historical data from Husky.
  • 4 Prior period results have been restated to conform with the current definition of adjusted funds flow.
  • Cenovus continued to execute its NCIB announced in late 2021, which allows the company to purchase up to 146.5 million of its common shares.
  • In 2021, the company repurchasedapproximately 17 million common shares with another9 million bought back so far in 2022.

Suncor Energy announces 2022 production outlook and capital program

Retrieved on: 
Monday, December 13, 2021

Suncors corporate guidance provides managements outlook for 2022 in certain key areas of the companys business.

Key Points: 
  • Suncors corporate guidance provides managements outlook for 2022 in certain key areas of the companys business.
  • Assumptions for the Oil Sands operations, Syncrude and Fort Hills 2022 production outlook include those relating to reliability and operational efficiency initiatives that the company expects will minimize unplanned maintenance in 2022.
  • Assumptions for the Exploration & Production 2022 production outlook include those relating to reservoir performance, drilling results and facility reliability.
  • Declines in commodity prices may alter our production outlook and/or reduce our capital expenditure plans.

Cenovus releases 2022 budget, updated strategy and 5-year business plan

Retrieved on: 
Wednesday, December 8, 2021

Operating costs for 2022 are expected to range between $10.50 per BOE and $12.00 per BOE, which are largely flat year-over-year.

Key Points: 
  • Operating costs for 2022 are expected to range between $10.50 per BOE and $12.00 per BOE, which are largely flat year-over-year.
  • Offshore production in 2022 is expected to be in the range of 64,000 BOE/d to 76,000 BOE/d.
  • For further details on Cenovuss 2022 budget, updated strategy and five-year business plan, see the companys Investor Day presentation and 2022 guidance available under Investors at cenovus.com .
  • Cenovus presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated.

Cenovus increases shareholder returns on strong performance in Q3 2021

Retrieved on: 
Wednesday, November 3, 2021

Cenovus achieved strong occupational and process safety performance while completing maintenance work at several of its assets and demonstrated solid safety results company-wide in the third quarter.

Key Points: 
  • Cenovus achieved strong occupational and process safety performance while completing maintenance work at several of its assets and demonstrated solid safety results company-wide in the third quarter.
  • Cenovus continues to focus on applying its operating techniques to Husky assets to enhance performance, including further expected reductions in per-unit operating costs.
  • Cenovus will host a conference call today, November 3, 2021, starting at 9 a.m. MT (11 a.m.
  • Cenovus reports financial results in Canadian dollars and presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated.