The combined company is expected to generate annual synergies of $1.2 billion and will operate as Cenovus Energy Inc with headquarters in Alberta, Canada, the statement said. Cenovus CEO Alex Pourbaix will serve as chief executive of the merged company with Jeff Hart, currently Husky's finance chief, becoming chief financial officer. Cenovus said the combined company will be the third largest Canadian oil and natural gas producer with production of 750,000 barrels of oil equivalent per day of low-cost oil and natural gas.
Italy on Sunday ordered bars and restaurants to close by 6 p.m. and shut public gyms, cinemas and swimming pools to try to halt a rapid resurgence in the coronavirus that has pushed daily infection rates to new records. The measures, which take effect on Monday and were agreed between Prime Minister Giuseppe Conte's government in Rome and regional authorities, arrived after two nights of protests in Naples and Rome against curfews introduced in a number of regions last week. Aware of the huge cost of shutting down the economy, the Rome government has said it does not want to repeat the blanket lockdown ordered in the first phase of the crisis.
Tuesday found oil traders struggling to make up their minds on how to interpret the result of the previous day's OPEC+ meeting.