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Cenovus Energy makes $700-million cut to 2015 spending budget to preserve cash

2015-01-28 14:16:06| Energy - Topix.net

Cenovus Energy Inc. has lowered its 2015 capital budget to between $1.8 billion and $2 billion, which is about $700 million less than the previous estimate and more than 15 per cent below last year's spending levels. Cenovus chief executive Brian Ferguson says he believes crude oil prices will rebound, but the timing is uncertain.

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