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Splattering of red ink in the oilpatch as crude rout weighs on quarterly results

2015-02-13 07:09:35| Oil & Gas - Topix.net

There was a splattering of red ink in the oilpatch Thursday, as the steep drop in oil prices weighed on the bottom lines of some of the energy sector's biggest names in the last three months of 2014. Oilsands producer Cenovus Energy Inc. said it's cutting its headcount by 15 per cent, mostly contractors, amounting to 800 positions.

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