Canadian Natural Resources posts 89 pct drop in quarterly profit

Thu Mar 3, 2016 5:11am EST
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March 3 (Reuters) - Canadian Natural Resources Ltd reported an 89 percent fall in quarterly profit, hurt by weak oil and gas prices.

Canada's No.2 oil and gas producer reported net earnings of C$131 million ($97.48 million), or 12 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with a profit of C$1.20 billion, or C$1.09 per share, a year earlier.

Revenue fell more than 36 percent to C$2.79 billion. ($1 = C$1.34) (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)