Cenovus Energy to Invest $1.5 Billion in Ohio Refineries

Reuters, April 11, 2024

Cenovus Energy (CVE.TO) on Thursday said it plans to invest $1.5 billion in its Ohio refineries over the coming five years, including Lima and Oregon.

The investment in Ohio refineries include maintenance, reliability measures and market access projects, the company said.

Cenovus produces oil and natural gas with locations in Canada, the United States and the Asia Pacific region and is the largest refiner in the state of Ohio where it employs almost 1,200.

Cenovus' Toledo refinery in Oregon, Ohio has a processing capacity of up to 160,000 barrels per day (bpd), according to the company's website. The Lima refinery has a refining capacity of 183,000 bpd, per the U.S. Energy Information Administration.

(Reporting by Sherin Elizabeth Varghese and Anjana Anil; Editing by Jason Neely and Chizu Nomiyama and Franklin Paul)

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