April 28, 2008 / 8:17 PM / 10 years ago

Canadian Oil Sands profit jumps with crude prices

CALGARY, Alberta, April 28 (Reuters) - Canadian Oil Sands Trust COS_u.TO, which has the biggest stake in the Syncrude Canada oil sands venture, said on Monday its first-quarter profit rose nearly 14 percent as crude prices surged.

The trust, which owns 37 percent of Syncrude, the world’s biggest oil sands mining and synthetic crude processing operation, earned C$298 million ($295 million), or 62 Canadian cents per unit, up from year-earlier C$262 million, or 54 Canadian cents a unit.

$1=$1.01 Canadian Reporting by Jeffrey Jones; Editing by Peter Galloway

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