Canadian Natural Resources reports smaller quarterly loss

Thu May 5, 2016 5:12am EDT
 
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May 5 (Reuters) - Canadian Natural Resources Ltd 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. ($1 = 1.2818 Canadian dollars) (Reporting by Arathy S Nair in Bengaluru; Editing by Anupama Dwivedi)