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Company News

Cenovus Energy futher cuts 2020 spending by C$150 mln

April 2 (Reuters) - Canada-based integrated oil and natural gas company Cenovus Energy said on Thursday it would further reduce its full-year capital spending plans by C$150 million ($106.37 million), citing low global oil prices.

The company added it would also temporarily suspended its dividend.

Last month, Cenovus announced a near 32% cut to its capital spending for the year and a temporary suspension of its crude-by-rail program as an erupting Saudi-Russia oil price war dealt a blow to the struggling Canadian oil industry. ($1 = 1.4102 Canadian dollars) (Reporting by Shradha Singh in Bengaluru)

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