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2021 budget to achieve nearly $1 billion of synergies in first year
Cenovus Energy IncJanuary 28, 2021 GMT
CALGARY, Alberta, Jan. 28, 2021 (GLOBE NEWSWIRE) Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has delivered a disciplined 2021 capital budget focused on maintaining safe and reliable operations while positioning the company to drive enhanced shareholder value. The budget includes sustaining capital of approximately $2.1 billion to deliver upstream production of approximately 755,000 barrels of oil equivalent per day (BOE/d) and downstream throughput of approximately 525,000 barrels per day (bbls/d).
The budget anticipates Cenovus achieving nearly $1 billion of synergies in 2021 as a result of its recent transaction with Husky Energy, putting the company firmly on track to reach its planned $1.2 billion in annual run-rate synergies by the end of 2021. The budget also includes $520 m
S&P Global Ratings Takes Multiple Rating Actions On Major Oil And Gas Companies To Factor In Greater Industry Risks
- S&P Global Ratings believes the energy transition, price volatility, and weaker profitability are increasing risks for oil and gas producers.
- To factor this into our ratings, on Jan. 25, 2021, we revised our industry risk assessment to moderately high risk from intermediate risk.
- We have placed our ratings on nine companies and their subsidiaries on CreditWatch with negative implications, as we review the consequences of higher business risks for these ratings.
- We are revising the outlooks on two ratings to negative.
REUTERS REPORT-Regulators Ignored Workers’ COVID-19 Safety Complaints Amid Deadly Outbreaks
Miguel Cabezola, a driver for United Parcel Service Inc. in Tucson, Arizona, complained on March 27 to U.S. workplace safety regulators, alleging the company was taking a lax approach to social distancing, sanitizing equipment and quarantining workers with COVID-19 symptoms. He hoped for an inspection of the facility that would force changes to protect worker safety.
Instead, the state arm of the U.S. Occupational Safety and Health Administration (OSHA) summarized Cabezola’s concerns in an email to company management, reviewed the UPS response and closed the file.
Over the next two months, a COVID-19 outbreak infected more than 40 Tucson UPS workers – including a manager who eventually died – and caused delivery delays throughout southern Arizona, according to interviews with six Tucson UPS workers and local union officials of the International Brotherhood of Teamsters.
Special Report-US regulators ignored workers COVID-19 safety complaints amid deadly outbreaks Toggle share menu
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REUTERS: Miguel Cabezola, a driver for United Parcel Service Inc in Tucson, Arizona, complained on March 27 to U.S. workplace safety regulators, alleging the company was taking a lax approach to social distancing, sanitizing equipment and quarantining workers with COVID-19 symptoms. He hoped for an inspection of the facility that would force changes to protect worker safety.
Instead, the state arm of the U.S. Occupational Safety and Health Administration (OSHA) summarized Cabezola s concerns in an email to company management, reviewed the UPS response and closed the file.
Special Report: U S regulators ignored workers COVID-19 safety complaints amid deadly outbreaks reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.