Cenovus Q2 Profit Rises on Higher Oil Output and Refining Volumes

Cenovus Energy (NYSE: CVE) booked a second-quarter net profit that was higher than year-ago levels on the back of increased oil and gas production and higher refining throughput at its U.S. refineries. Cenovus reported on Thursday a net income of US$723 million (C$1 billion) for the second quarter of 2024, up from US$626 million (C$866 million) for the same period last year. Cash from operating activities and free funds flow also rose in the quarter of April to June 2024 compared to the second quarter of 2023. Cenovus attributed the higher net…