Canadian Natural profit falls 57 pct

Thu Nov 8, 2012 5:21am EST
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Nov 8 (Reuters) - Canadian Natural Resources Ltd, the country's biggest independent oil and gas producer, reported a 57 percent fall in third-quarter profit on weak crude oil and natural gas prices, higher costs and a drop in output from its North Sea operations.

Net income fell to C$360 million ($361.54 million), or 33 Canadian cents per share, from C$836 million, or 76 Canadian cents per share, a year earlier.

Revenue rose 8 percent to C$3.54 billion.