Cenovus CEO Sees Growth Opportunities in Energy Agreement

Cenovus Energy Inc.'s CEO Jon McKenzie sees growth opportunities in an agreement signed by Ottawa, Alberta, and Canada's top oil producers. The pact clears a hurdle for building a new West Coast pipeline and paves the way for significant production growth.

The energy agreement includes a massive carbon-capture project in Alberta's north and provides more financial support for oil-sands producers to cut emissions and expand production.

Cenovus has already upped its annual production guidance due to a bumper crude output in the second quarter, averaging over 970,000 barrels per day from April through June.