XML 86 R49.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Impairment Charges and Reversals (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of impairment loss recognised or reversed for cash-generating unit [abstract] |
Summary of Crude Oil, NGLs and Natural Gas Prices | The forward commodity prices as at December 31, 2024, used to determine future cash flows from crude oil, NGLs and natural gas reserves were:
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Average Annual Increase Thereafter (percent)
West Texas Intermediate (“WTI”) (US$/bbl) (1) | 71.58 |  | 74.48 |  | 75.81 |  | 77.66 |  | 79.22 |  | 2.00 |
Western Canadian Select at Hardisty (2) (C$/bbl) | 82.69 |  | 84.27 |  | 83.81 |  | 85.70 |  | 87.45 |  | 2.00 |
Condensate at Edmonton (C$/bbl) | 100.14 |  | 100.72 |  | 100.24 |  | 102.73 |  | 104.79 |  | 2.00 |
Alberta Energy Company Natural Gas (C$/Mcf) (3) | 2.36 |  | 3.33 |  | 3.48 |  | 3.69 |  | 3.76 |  | 2.00 |
(1)Barrel ("bbl"). (2)Western Canadian Select at Hardisty (“WCS”). (3)One thousand cubic feet (“Mcf”). The forward commodity prices as at December 31, 2023, used to determine future cash flows from crude oil, NGLs and natural gas reserves were:
| 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Average Annual Increase Thereafter (percent)
WTI (US$/bbl) | 73.67 |  | 74.98 |  | 76.14 |  | 77.66 |  | 79.22 |  | 2.00 |
WCS (C$/bbl) | 76.74 |  | 79.77 |  | 81.12 |  | 82.88 |  | 85.04 |  | 2.00 |
Condensate at Edmonton (C$/bbl) | 96.79 |  | 98.75 |  | 100.71 |  | 102.72 |  | 104.78 |  | 2.00 |
Alberta Energy Company Natural Gas (C$/Mcf) | 2.20 |  | 3.37 |  | 4.05 |  | 4.13 |  | 4.21 |  | 2.00 |
Summary of Crude Oil and Forward Crack Spreads | As at December 31, 2024, the forward prices used to determine future cash flows were:
(US$/bbl) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
WTI | 77.68 |  | 77.07 |  | 78.74 |  | 81.51 |  | 83.14
Differential WTI – WCS | (14.17) |  | (15.34) |  | (15.71) |  | (16.62) |  | (17.11)
Chicago 3-2-1 Crack Spread | 20.01 |  | 21.97 |  | 22.60 |  | 23.87 |  | 24.66
Renewable Identification Numbers | 6.79 |  | 7.31 |  | 8.05 |  | 8.69 |  | 9.03
Sensitivities Change In The Discount Rate | The sensitivity analysis below shows the impact that a change in the discount rate or in forward prices would have on the impairment amount as at December 31, 2024, for the U.S. Refining CGUs:
|  | Increase (Decrease) to Impairment Amount
|  | One Percent Increase in the Discount Rate |  |  |  |  |  | Five Percent Decrease in the Forward Prices
Lima and Wood River CGUs |  | 214 |  |  |  |  |  | 619

X
- Definition Crude Oil and Forward Crack Spreads + References No definition available. + Details
Name: | cve_CrudeOilAndForwardCrackSpreadsTableTextBlock
Namespace Prefix: | cve_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Crude Oil, NGLs and Natural Gas Prices + References No definition available. + Details
Name: | cve_CrudeOilNGLsAndNaturalGasPricesTableTextBlock
Namespace Prefix: | cve_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Sensitivities Change In The Discount Rate + References No definition available. + Details
Name: | cve_SensitivitiesChangeInTheDiscountRateTableTextBlock
Namespace Prefix: | cve_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfImpairmentLossRecognisedOrReversedAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration