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Company News

Canada's Husky Energy racks up Q2 loss after oil slump

July 30 (Reuters) - Canada’s Husky Energy Inc on Thursday posted a quarterly loss as the COVID-19 pandemic caused crude oil prices to crash and sapped global demand for fuel.

The Calgary, Alberta-based company recorded a net loss of C$304 million ($226.60 million), or 31 Canadian cents per share, for the second quarter ended June 30, from a year-ago profit of C$370 million or 36 Canadian cents per share.

The company said quarterly production fell to 247,000 barrels of oil equivalent per day (boepd) from last’s year 268,000 boepd. ($1 = 1.3416 Canadian dollars) (Reporting by Arunima Kumar in Bengaluru; Editing by Ramakrishnan M.)

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