CALGARY – Cenovus Energy Inc. raised its production forecast for the year as it reported a second-quarter profit of $2.87 billion, up from $851 million a year ago.
That amounted to $1.53 per diluted share, up from 45 cents per diluted share in the same quarter last year.
Revenue totalled $17.4 billion, up from $12.3 billion a year earlier.
Total upstream production was 970,400 barrels of oil equivalent per day, up from 765,900 boepd in the second quarter of 2025.
Cenovus says it now expects upstream production in the range of 970,000 to 1,010,000 boepd for 2026, an increase of 25,000 boepd, reflecting a strong performance in the oilsands and optimization of turnaround activity at Foster Creek and Christina Lake.
Downstream crude throughput was 451,500 barrels per day, down from 665,800 a year earlier.
This report by The Canadian Press was first published July 29, 2026.
Companies in this story: (TSX:CVE)