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Company News

CORRECTED-Canadian Natural Resources profit more than doubles on higher output

(Corrects to “million” from “billion” in paragraph 3)

May 3 (Reuters) - Canadian Natural Resources Ltd, Canada’s largest independent petroleum producer, said on Thursday its quarterly profit more than doubled, helped by higher oil sands production.

The Calgary-based company said net income rose to C$583 million, or 47 Canadian cents per share, in the first quarter ended March 31, from C$245 million, or 22 Canadian cents, a year earlier.

Overall daily production rose to 1.12 million barrels of oil equivalent per day (boepd) from 876,907 boepd. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Amrutha Gayathri)

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