Cenovus Energy Inc. chief executive Alex Pourbaix said Thursday that inflation has been"manageable" for the energy company so far, but is something he is certainly keeping an eye on.
His comments come after the Calgary-based company posted a massive upswing in profit in its second quarter amid increased commodity prices and higher margins. Total upstream production reached 761,500 barrels of oil equivalent per day, down from 765,900 barrels of oil equivalent per day in the prior year period, and total downstream throughput reached 457,300 barrels per day, down from 539,000 in the prior year period.
"We’re well positioned for even better performance in the second half of the year as our assets return to operating at normal rates across the portfolio," Pourbaix said in a statement Thursday.
Sure it is with oil $100 + a barrel!🙄
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