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Company News

Canada's Cenovus Energy swings to quarterly loss

April 29 (Reuters) - Canada’s Cenovus Energy swung to a quarterly loss on Wednesday, hurt by a significant decline in global demand for crude oil caused by the coronavirus outbreak and a price war between Saudi Arabia and Russia.

Net loss stood at C$1.80 billion ($1.29 billion), or C$1.46 per share, in the first quarter ended March 31, compared to a profit of C$110 million, or 9 Canadian cents per share, from a year earlier.

$1 = 1.3938 Canadian dollars Reporting by Arundhati Sarkar in Bengaluru; Editing by Ramakrishnan M.

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