Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

Cenovus Energy Inc. has signed a US$300-million deal that it says marks another step forward in its long-term strategy to integrate its heavy oil production with refining capability. 

The Calgary-based oil company announced Monday it has reached a deal with British energy giant BP to buy the remaining 50 per cent stake in the BP-Husky Toledo Refinery in Ohio. The two companies have also signed a multi-year product supply agreement.