Source: Toledo Blade
  • Cenovus Energy (CVE) has closed on the transaction to purchase bp’s 50 per cent interest in the bp-Husky Toledo Refinery for US$370 million
  • Cenovus now owns 100 per cent and assumes operatorship of the refinery
  • The Toledo Refinery has 160,000 barrels per day of throughput capacity
  • Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations
  • Cenovus Energy (CVE) opened trading at C$25.16

Cenovus Energy (CVE) has closed on the transaction to purchase bp’s 50 per cent interest in the bp-Husky Toledo Refinery in Ohio.

Cenovus already owned 50 per cent of the facility and now owns 100 per cent and assumes operatorship. The total consideration for the sale is approximately US$370 million. Cenovus and bp will also enter into a multi-year product supply agreement.

The Toledo Refinery has 160,000 barrels per day (bbls/d) of throughput capacity, including about 90,000 bbls/d of heavy oil capacity, increasing Cenovus’s total downstream refining capacity to about 740,000 bbls/d. Cenovus expects the refinery will ramp to full rates by the mid-second quarter.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region and upgrading, refining and marketing operations in Canada and the United States.

Cenovus Energy Inc. (CVE) opened trading at C$25.16.


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