IIR Energy - Cenovus to Buy Remaining 50% of Ohio Refinery from BP

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Cenovus to Buy Remaining 50% of Ohio Refinery from BP

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August 9, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Integrated energy company Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta) has reached an agreement with BP plc (NYSE:BP) (London, England) to acquire the remaining stake in the 160,000-barrel-per-day (BBL/d) Toledo Refinery in Ohio for $300 million, as Cenovus seeks to boost its downstream operations in the U.S. Cenovus already owns 50% of the refinery. Industrial Info is tracking $12.8 billion worth of projects for Cenovus, $11.6 billion of which are in the U.S. and Canada.

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Industry Segment: Petroleum Refining
Word Count: 721 Words