Cenovus Energy (CVE) Voices Concern Over Carbon Capture Aid
CVECenovus Energy(CVE) Zacks Investment Research·2024-03-08 00:41

Cenovus Energy Inc. (CVE) has taken a firm stance against the Canadian government, expressing dissatisfaction with the level of financial support extended to the oil-sands industry's ambitious C$16.5 billion carbon capture system, per a Bloomberg report. The federal government's proposed tax credits, covering only half of the capital costs, and Alberta's 12% subsidy have fallen short of Cenovus' expectations. Although Canada offers operating cost support through contracts guaranteeing a profitable carbon pr ...