Cenovus is investigating several partial upgrading technologies for potential future investment, according to CEO Alex Pourbaix. Raw bitumen shipped to the U.S. Gulf Coast is processed in Texas, which has no carbon tax, he said. Alberta Innovates has hired an engineering firm to produce a report to be delivered by the end of February that will evaluate pre-commercial partial upgrading technologies. About 60 per cent of Alberta's oilsands production is shipped in its raw form. The rest is typically upgraded into synthetic crude oil, a light product that flows easily in a pipeline and usually fetches near-WTI prices.

Source: CBC News February 18, 2018 16:30 UTC