Cenovus and Husky Do Not Yield Under Pressure…They Merge!

What does the merger of Cenovus Energy and Husky mean for the oil and gas industry? Curtis Pollard from the VerdeChem R&D lab in Okotoks, shares some of his thoughts:

“No doubt this merger between Husky and Cenovus will result in a larger and more competitive company at the expense and hardship of shedding many employee jobs, which will find duplication and redundancies. Cenovus will now no longer be just an oil and gas producer but will also have retail sales through all Huskies gas stations and heavy upgrading refinery. This is compelling from a business and capital perspective but will come at a horrible cost to many employees and their families. The merger will undoubtedly make the new entity more competitive in both the Canadian and world markets especially if we are able to get our hydrocarbon resources to tide water and international markets”.

Find out more about the merger right here:

https://boereport.com/2020/11/03/how-does-the-cenovus-husky-merger-affect-the-industry-moving-forward/

 

#merger, #oilandgas, #industrynews, #Canadianoilmarkets