Two of Cenovus Energy's fire-damaged refineries, which began restarting in the second quarter, are expected back online in the coming days.
The 173,000 b/d Toledo, Ohio, refinery was fully operational by mid-June, Cenovus said on an earnings call today to discuss second quarter results.
The refinery has been offline since September 2022 when, while still under BP's ownership, an explosion killed two workers. Calgary-based Cenovus acquired a 50pc ownership when it bought out Husky Energy in 2021 before purchasing BP's remaining stake earlier this year.
Cenovus' 38,000 b/d Superior, Wisconsin, refinery is in the process of restarting, with operators focusing on bringing the fluid catalytic cracker (FCC) — which upgrades naphtha and vacuum gas-oil (VGO) to finished gasoline — online.
The Wisconin refinery has been offline since a 2018 blast injured 11 workers.
The refinery is "days away" from introducing feed into the FCC, marking a full restart of the refinery after five years of downtime, downstream vice president Keith Chiasson said on the call.
Cenovus' Toledo and Superior refineries are the usual destinations for Canadian heavy crude, but narrowing price differences between light and heavy feedstock grades could be a headwind to refinery profitability.

