Cenovus has come up with some ways to deal with oil prices.
Reuters reports that it has recently completed a major project to boost capacity to process heavy crude at its Wood River refinery in Illinois.
This allows the company to deal with the price difference on Canadian heavy crude that pressures the bottom line.
It will bring in 5 to 10 percent more heavy crude into the refinery.
The company says it will eliminate some of the bottlenecking.
It is buying guaranteed capacity on Kinder-Morgan’s TransMountain pipeline, and signing a five-year deal with a refiner where the price discount is less than the market.
January 13th, 2013
