Cenovus Energy reduces downstream throughput guidance

Cenovus Energy Inc., Calgary, reduced its expected downstream throughput for fourth-quarter 2022, citing the impact of winter storms at the company’s US and Canadian refining operations, unplanned operational challenges, and third-party pipeline outages.

Refineries in the US and the Lloydminster heavy oil upgrader in Saskatchewan experienced various degrees of unplanned operational issues, weather-related impacts, and third-party pipeline outages, the company said in a release Jan. 8. As a result, downstream throughput was reduced in December.

Fourth-quarter 2022 downstream throughput for Canadian manufacturing has been reduced to 90,000-95,000 b/d, while US manufacturing has been reduced to 370,000-380,000 b/d.

The Lima refinery in Ohio is now operating at full rates, the company said. The Lloydminster upgrader in Canada and the Phillips 66-operated Borger refinery in Texas (50% interest) are each expected to return to full rates by mid-January. The Phillips 66-operated Wood River refinery in Illinois (50% interest), currently operating at about 65% capacity, is expected to continue to increase rates through the first quarter, Cenovus said. Impacts are expected to reduce first-quarter 2023 downstream refinery throughput.