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Company News

Canadian Natural's quarterly profit falls 8.4 percent

Aug 2 (Reuters) - Canadian Natural Resources Ltd (CNRL) reported an 8.4 percent slump in quarterly profit on Thursday, partly hurt by a decline in the production and realized price of natural gas.

The company’s net earnings fell to C$982 million ($754 million), or 80 Canadian cents per share, in the second quarter ended June 30, from C$1.07 billion, or 93 Canadian cents per share, a year earlier.

Overall production rose 15 percent to 1,050,376 barrels of oil equivalent per day (boe/d), while natural gas production fell 7.1 percent.

$1 = C$1.30 Reporting by Anirban Paul in Bengaluru; Editing by Maju Samuel

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