July 23, 2008 / 9:32 PM / in 9 years

Husky Energy profit surges on sky-high oil prices

CALGARY, Alberta (Reuters) - Husky Energy Inc’s (HSE.TO) second-quarter profit surged 89 percent despite lower output as Canada’s No. 3 oil producer and refiner reaped rewards from sky-high oil and gas prices, it said on Wednesday.

Husky, controlled by Hong Kong billionaire Li Ka-shing, earned C$1.36 billion ($1.35 billion), or C$1.61 a share, up from year-earlier C$721 million, or 85 Canadian cents a share.

($1=$1.01 Canadian)

Reporting by Jeffrey Jones; Editing by Peter Galloway

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