Alberta
Cenovus reports $784M Q4 profit, CEO Alex Pourbaix to become executive chair
Calgary – Cenovus Energy Inc. says chief executive Alex Pourbaix will become executive chair later this year, while chief operating officer Jon McKenzie will become chief executive.
The company says the moves will take place after its annual meeting set for April 26.
The announcement of the change in the executive suites came as the company reported a fourth-quarter profit of $784 million or 39 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $408 million or 21 cents per diluted share a year earlier.
Revenue in the quarter was $14.1 billion, up from $13.7 billion in the last three months of 2021.
Cenovus reported total upstream production amounted to 806,900 barrels of oil equivalent per day for its most recent quarter, down from 825,300 a year earlier.
Total downstream throughput was 473,500 barrels per day, up from 469,900 in the fourth quarter or 2021.
This report by The Canadian Press was first published Feb. 16, 2023.
Companies in this story: (TSX:CVE)
Alberta
Official statement from Premier Danielle Smith and Energy Minister Brian Jean on the start-up of the Trans Mountain Pipeline
Alberta
Protecting the right to vote for Canadian citizens: Minister McIver
Minister of Municipal Affairs Ric McIver issued the following statement in response to Calgary City Council’s vote to extend the right to vote to permanent residents:
“Yesterday, Calgary city council passed a motion advocating for permanent residents to be extended the right to vote in civic elections. Alberta’s government has been clear since the beginning: only Canadian citizens are able to vote in civic elections. That will not be changing.
“The Canadian Charter of Rights and Freedoms affirms the right of every Canadian citizen to vote and to run as a candidate. This right extends to voters in municipal, provincial and federal elections.
“Protecting our democracy is of the utmost importance. Our provincial election legislation, like the Local Authorities Elections Act, has also been clear since its inception that voting is a right of Canadian citizens.
“Alberta’s government is also ensuring that voting is accessible for more Albertans. The Municipal Affairs Statutes Amendment Act proposes to enable special ballot access for any voter who requests it, without having to provide any specific reason such as physical disability, absence from the municipality or working for the municipal election. The ministries of Seniors, Community and Social Services and Service Alberta and Red Tape Reduction are also making it easier for individuals to obtain the identification Albertans need for a variety of services, including the ability to cast a ballot.
“Our government will continue to protect the integrity of our elections and make sure voting is accessible for all Albertans who are Canadian citizens.”
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