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Company News

Canadian Natural Resources posts Q2 profit from year-ago loss

Aug 3 (Reuters) - Canadian Natural Resources Ltd reported a quarterly profit on Thursday compared with a year-ago loss, as the oil and natural gas producer benefited from higher oil prices and production rise.

The company earned C$1.07 billion ($849.3 million), or 93 Canadian cents per share, in the second quarter ended June 30, compared with a loss of C$339 million, or 31 Canadian cents per share, a year earlier.

Oil and natural gas production rose 16.5 percent to 913,171 barrels of oil equivalent per day (BOE/d) in the quarter, from a year earlier. ($1 = 1.2598 Canadian dollars) (Reporting by Anirban Paul in Bengaluru; Editing by Gopakumar Warrier)

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