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Description of Business and Segmented Disclosures (Tables)
12 Months Ended
Dec. 31, 2022
Disclosure Of Reportable Segments [Abstract]  
Schedule of Segment and Operational Information
A) Results of Operations – Segment and Operational Information
Upstream
For the years ended
December 31,
Oil SandsConventionalOffshoreTotal
2022
2021 (1)
20202022202120202022202120202022
2021 (1)
2020
Revenues
Gross Sales34,77522,8278,8044,3323,2359042,0201,78241,12727,8449,708
Less: Royalties
4,4932,19633129815040771084,8682,454371
30,28220,6318,4734,0343,0858641,9431,67436,25925,3909,337
Expenses
Purchased Product
4,8102,4041,2622,0231,6552686,8334,0591,530
     Transportation and
   Blending
12,0368,6254,6831437481151512,1948,7144,764
Operating
2,9302,4511,1565415513203182393,7893,2411,476
Realized (Gain) Loss on Risk
   Management
1,5277862689221,619788268
Operating Margin8,9796,3651,1041,2358031951,6101,42011,8248,5881,299
Unrealized (Gain) Loss on
   Risk Management
(68)1857131(55)1957
Depreciation, Depletion and
   Amortization
2,7632,6661,68737038805854923,7183,1612,567
Exploration Expense91691(3)829151011891
(Income) Loss From Equity-
   Accounted Affiliates
8(5)(23)(47)(15)(52)
Segment Income (Loss)6,2673,670(649)851802(767)9579708,0755,442(1,416)
(1)Prior period results have been adjusted to more appropriately reflect the cost of blending (see Note 3X).
Downstream
Canadian ManufacturingU.S. ManufacturingTotal
For the years ended December 31,2022
2021 (1)
20202022202120202022
2021 (1)
2020
Revenues
Gross Sales7,7926,2158230,31020,0434,73338,10226,2584,815
Less: Royalties
7,7926,2158230,31020,0434,73338,10226,2584,815
Expenses
Purchased Product
6,3895,15626,11217,9554,42932,50123,1114,429
Transportation and Blending
Operating
704486372,3461,7727483,0502,258785
Realized (Gain) Loss on Risk
   Management
112104(21)112104(21)
Operating Margin699573451,740212(423)2,439785(378)
Unrealized (Gain) Loss on Risk
   Management
181(1)181(1)
Depreciation, Depletion and
   Amortization
20822686402,3817288482,607736
Exploration Expense
(Income) Loss From Equity-Accounted
    Affiliates
Segment Income (Loss)491347371,082(2,170)(1,150)1,573(1,823)(1,113)
(1)Prior period results have been re-presented. In September 2022, the Company divested the majority of the retail fuels business. The Retail segment has been aggregated with the Canadian Manufacturing segment (see Note 3X).
Corporate and EliminationsConsolidated
For the years ended December 31,2022
2021 (1) (2)
2020
2022
2021 (1) (2)
2020
Revenues
Gross Sales(7,464)(5,291)(609)71,76548,81113,914
Less: Royalties
4,8682,454371
(7,464)(5,291)(609)66,89746,35713,543
Expenses
Purchased Product
(5,533)(3,844)(278)33,80123,3265,681
Transportation and Blending
(664)(676)(36)11,5308,0384,728
Operating
(1,270)(783)(306)5,5694,7161,955
Realized (Gain) Loss on Risk Management3110151,762993252
Unrealized (Gain) Loss on Risk Management
(89)(18)(126)256
Depreciation, Depletion and Amortization1131181614,6795,8863,464
Exploration Expense1011891
(Income) Loss From Equity-Accounted Affiliates(5)(15)(57)
Segment Income (Loss)(52)(184)(155)9,5963,435(2,684)
General and Administrative865849292865849292
Finance Costs8201,0825368201,082536
Interest Income(81)(23)(9)(81)(23)(9)
Integration and Transaction Costs1063492910634929
Foreign Exchange (Gain) Loss, Net343(174)(181)343(174)(181)
Revaluation (Gains)(549)(549)
Re-measurement of Contingent Payment162575(80)162575(80)
(Gain) Loss on Divestiture of Assets(269)(229)(81)(269)(229)(81)
Other (Income) Loss, Net(532)(309)40(532)(309)40
8652,1205468652,120546
Earnings (Loss) Before Income Tax8,7311,315(3,230)
Income Tax Expense (Recovery)2,281728(851)
Net Earnings (Loss)6,450587(2,379)
(1)Prior period results have been adjusted to more appropriately reflect the cost of blending (see Note 3X).
(2)Prior period results have been re-presented. In September 2022, the Company divested the majority of the retail fuels business. The Retail segment has been aggregated with the Canadian Manufacturing segment (see Note 3X).
Schedule of Revenues by Product
B) Revenues by Product
For the years ended December 31,20222021
2020
Upstream
Crude Oil (1)
29,83419,8778,017
NGLs (1)
2,3461,983727
Natural Gas3,6903,032535
Other38949858
Downstream
Canadian Manufacturing
Synthetic Crude Oil2,3601,951
Asphalt620477
Other Products and Services (2)
4,8123,78782
U.S. Manufacturing
Gasoline14,11610,1112,352
Diesel and Distillate11,4536,4291,569
Other Products4,7413,503812
Corporate and Eliminations (2)
(7,464)(5,291)(609)
Consolidated66,89746,35713,543
(1)Prior period results have been re-presented. Third-party condensate sales previously included in crude oil have been aggregated with NGLs.
(2)Prior period results have been re-presented. The Retail segment has been aggregated with the Canadian Manufacturing segment (see Note 3X).
Schedule of Geographical Information
C) Geographical Information
Revenues (1)
For the years ended December 31,20222021
2020
Canada33,22223,7688,715
United States32,31321,3264,828
China1,3621,263
Consolidated66,89746,35713,543
(1)Revenues by country are classified based on where the operations are located.
Non-Current Assets (1)
As at December 31, 2022
2021 (2)
Canada35,19433,981
United States4,8244,093
China2,0642,583
Indonesia365311
Consolidated42,44740,968
(1)Includes exploration and evaluation (“E&E”) assets, property, plant and equipment (“PP&E”), right-of-use (“ROU”) assets, income tax receivable, investments in equity-accounted affiliates, precious metals, intangible assets and goodwill.
(2)Canada excludes assets held for sale of $1.3 billion that were divested in 2022.
Schedule of Assets by Segment
D) Assets by Segment
E&E AssetsPP&EROU Assets
As at December 31, 202220212022202120222021
Oil Sands67465324,65722,535638754
Conventional662,0202,17422
Offshore5612,5492,822152160
Canadian Manufacturing (1)
2,4662,558252388
U.S. Manufacturing4,4823,745329252
Corporate and Eliminations325391472454
Consolidated68572036,49934,2251,8452,010
GoodwillTotal Assets
As at December 31, 202220212022
2021 (2)
Oil Sands2,9233,47332,24831,070
Conventional2,4103,026
Offshore3,3393,597
Canadian Manufacturing (1)
3,1723,884
U.S. Manufacturing (3)
8,3247,509
Corporate and Eliminations (3)
6,3765,018
Consolidated2,9233,47355,86954,104
(1)Prior period results have been re-presented. PP&E, ROU assets and total assets from the remaining commercial fuels business and the historic retail fuels business have been aggregated with the Canadian Manufacturing segment. 
(2)Total assets include assets held for sale $1.3 billion that were divested in 2022.
(3)Prior period results were re-presented to move income tax receivable and deferred income tax assets from the U.S. Manufacturing segment to the Corporate and Eliminations segment.
Schedule of Capital Expenditures
E) Capital Expenditures (1)
For the years ended December 31,202220212020
Capital Investment
Oil Sands1,7921,019427
Conventional34422278
Offshore
Asia Pacific821
Atlantic302154
Total Upstream 2,4461,416505
Canadian Manufacturing (2)
1176833
U.S. Manufacturing1,059995243
Total Downstream1,1761,063276
Corporate and Eliminations868460
3,7082,563841
Acquisitions (Note 5)
Oil Sands (3)
1,6095,0056
Conventional1255112
Offshore (4)
3,129
Canadian Manufacturing (2)
2,973
U.S. Manufacturing1,618
Corporate and Eliminations156
1,62113,43218
Total Capital Expenditures5,32915,995859
(1)Includes expenditures on PP&E, E&E assets and capitalized interest.
(2)Prior period results have been re-presented. The Retail segment has been aggregated with the Canadian Manufacturing segment (see Note 3X).
(3)Cenovus was deemed to have disposed of its pre-existing interest in Sunrise Oil Sands Partnership (“SOSP”) and reacquired it at fair value as required by International Financial Reporting Standard 3, “Business Combinations” (“IFRS 3”). The acquisition capital above does not include the fair value of the pre-existing interest in SOSP of $1.6 billion.
(4)Excludes capital expenditures related to the HCML joint venture, which are accounted for using the equity method.