Company News

BUZZ-Solid Q1 for Canada's integrated oil cos, but few surprises on production - CIBC

** CIBC expects Q1 earnings to be less volatile compared to the previous quarter for Canada’s large-cap oil producers and integrated cos

** Brokerage sees earnings beats for several cos, particularly heavy oil producers

** Narrow Canadian oil price differentials due to easiness in pipeline capacity and tightness in global heavy sour oil supply due to decline in Venezuelan, Mexican and some middle eastern supply among reasons for the view - CIBC

** Says volatile crack spreads in U.S. midwest and Ontario to influence earnings for integrated oil companies

** Some of the positives will be offset by higher costs and lower production due to Alberta output cuts - CIBC

** Expects Suncor Energy Inc, Husky Energy Inc , Cenovus Energy Inc, MEG Energy Corp, Athabasca Oil Corp and Canadian Natural Resources Ltd to beat consensus estimates in Q1 (Reporting by Debroop Roy in Bengaluru)