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Encana Corp. won investors’ approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada’s beleaguered energy industry.

About 90 per cent of security holders voted in favour of the plan, Encana said in a statement Tuesday after a special meeting in Calgary. The company produces oil and natural gas in both Canada and the U.S.

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Encana can now push ahead with a plan that has added to the gloom surrounding Canada’s oil industry, which is suffering from a lack of pipeline space that has weighed on prices and prevented producers from increasing output. The dismal environment has prompted foreign companies to sell more than US$30 billion of Canadian energy assets in the past three years.