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Company News

Canadian Natural Resources quarterly profit drops 30 percent

March 1 (Reuters) - Oil and gas producer Canadian Natural Resources Ltd, said on Thursday its fourth-quarter profit fell 30 percent.

The company’s net income fell to C$396 million ($308.17 million), or 32 Canadian cents per share, in the fourth quarter ended Dec. 31, from C$566 million, or 51 Canadian cents per share, a year earlier.

Overall daily production rose to 1.02 million barrels of oil equivalent per day from 859,577 barrels of oil equivalent per day, in the year-ago quarter. ($1 = C$1.29) (Reporting by Anirban Paul in Bengaluru; Editing by Shounak Dasgupta)

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