Canadian Natural Resources beats quarterly profit estimates
Canada's largest oil and gas producer Canadian Natural Resources surpassed expectations for second-quarter profit on Thursday, benefiting from higher oil and natural gas production.
Canadian oil sands producers have shown resilience during the global oil industry downturn, buoyed by years of investment that have made them among the lowest-cost operators in North America.
Oil prices, buoyed by Middle East supply fears after months of Israel-Iran strikes, have handed Canadian Natural Resources and its oil sands peers a windfall, with Brent's climb toward $100 a barrel reinforcing Canada's pitch as a safer, chokepoint-free alternative to Gulf crude.
Canadian Natural Resources said its output grew to 1.67-million barrels of oil equivalent per day (boepd) during the second quarter, from 1.42-million boepd a year ago.
The Calgary, Alberta-based company posted an adjusted profit of C$2.19 per share for the three months ended June 30, compared with analysts' average estimate of C$1.90, according to data compiled by LSEG.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation


















