Cenovus CEO: Cost-Cutting Efforts to Continue

The company reported a surprise quarterly profit and significant growth in oil sands production in 2016, while reducing costs. CEO Brian Ferguson discussed future growth opportunities and cost management strategies, including workforce reduction and process reorganization. By 2020, the company aims to increase capacity significantly. They are strong supporters of Keystone XL and have other transportation options. Dividend increases depend on cash flow sustainability, not oil prices. The company is optimistic about gradual oil price increases despite potential volatility.

What was the percentage growth in oil sands production during 2016?

How does the company plan to maintain its cost structure amidst rising oil service costs?

What cost reductions did the company achieve in 2016 compared to 2014?

By the end of the decade, what is the expected capacity of oil production?

What is the company's stance on the Keystone XL pipeline?

What factors are considered for a potential dividend increase?

What is the expected trend for oil prices according to the company's outlook?