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2025-07-31 18:08:55
[Canadian Energy Giant Cenovus Profits Decline: Wildfires Cast a Shadow, Upstream Production Hindered] ⑴ Canadian oil and gas producer Cenovus Energy released its second-quarter financial report on Thursday, showing a decline in net profit. ⑵ The profit decline was primarily due to reduced upstream production caused by the wildfires. ⑶ In the three months ending June 30, the Calgary, Alberta-based energy company achieved a net profit of 851 million Canadian dollars (approximately US$614.57 million). ⑷ This figure is lower than the net profit of 1 billion Canadian dollars recorded in the same period last year. ⑸ On a per-share basis, Cenovus earned 0.45 Canadian dollars per share in the second quarter, down from 0.53 Canadian dollars in the same period last year. ⑹ This decline in performance highlights the direct impact of natural disasters on energy production and reminds the market of the potential risks such external factors may pose to corporate operations.
