Cenovus Sells WRB Stake: A Refining Rethink

Cenovus Energy is selling its half-ownership of the WRB Refining joint venture to Phillips 66 for $1.4 billion, giving Phillips 66 full control of the Wood River and Borger refineries. This move shifts Cenovus's focus to its Canadian and remaining US refineries, potentially freeing up capital for strategic investments. The deal, expected to close in Q3, signals a significant shift in energy strategy and investment for both companies. Hosted on Acast. See acast.com/privacy for more information.