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Cenovus turns 4Q loss into profit

File Photo: Cenovus' Christina Lake project.

Cenovus Energy has turned around a fourth quarter loss last year into a big gain this year.

The oil sands company says it made 212 million dollars in operating earnings this past quarter, compared to a 188 million dollar loss last year.

It says oil sands production rose 14% to 103 thousand barrels per day.

Christina Lake production went up 55% as phase D reached full capacity.

Foster Creek was down 8%.

It also announced a 10 percent hike to its dividend.

The operating earnings excluded spending on its risk management programs, though.

With those included, the company had a net loss of 58 million dollars.