Canadian Natural Resources reports smaller quarterly loss

Thu May 5, 2016 5:14am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - Canadian Natural Resources Ltd (CNQ.TO: Quote) (CNQ.N: Quote) reported a smaller quarterly loss as cost cuts paid off amid a slump in oil prices.

Canada's largest independent petroleum producer said its net loss narrowed to C$105 million ($81.92 million), or 10 Canadian cents per share, in the first quarter ended March 31, from C$252 million, or 23 Canadian cents per share, a year earlier.

Revenue fell 28.2 percent to C$2.18 billion.

(Reporting by Arathy S Nair in Bengaluru; Editing by Anupama Dwivedi)