Cenovus Energy Inc. chief executive Alex Pourbaix will step down from his CEO role later this year in order to devote more time to his evolving role as an outspoken champion of Canada's oilsands industry and its decarbonization ambitions.
Cenovus is a member of the Pathways Alliance, a group of oilsands companies that together have pledged to spend $24.1 billion to reduce greenhouse gas emissions from oilsands production by 22 million tonnes by 2030. "Once I move to the executive chair position, I intend to dedicate even more time to this pivotal external issue for both Cenovus and our industry."
Environmental groups have been critical of the industry's lobbying for more support, given the record profits oil and gas companies earned in 2022 due to sky-high commodity prices.Pourbaix said Thursday that he wants to see the industry, the federal government, and the Alberta government come to some type of"durable" agreement as to what this country's emissions reduction ambitions are.
Total downstream throughput was 473,500 barrels per day, up from 469,900 in the fourth quarter or 2021.
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