We provide the latest news
from the world of economics and finance
Adds background and details in paragraph 2-6
Feb 29 (Reuters) - Oil and gas firm Canadian Natural Resources CNQ.TO beat fourth-quarter profit estimates on Thursday, helped by record production and liquefied natural gas (LNG) demand.
Total U.S. oil demand rose 3.4% in October versus the prior year, according to U.S. Energy Information Administration (EIA)data, benefiting Canadian firms as the U.S. is the largest importer of the country's oil and gas.
The company's quarterly crude oil and natural gas liquids (NGLs) production was at 1.05 millions of barrels per day (bbl/d), compared with 942,258 bbl/d a year earlier.
The company reported an adjusted profit of C$2.34 per share for the quarter ended Dec. 31, compared with analysts' average estimate of C$2.15 per share, according to LSEG data.
(Reporting by Tanay Dhumal in Bengaluru; Editing by Savio D'Souza and Shweta Agarwal)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
© 2024 Lime Trading (CY) Ltd
Lime Trading (CY) Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission in accordance with license No.281/15 issued on 25/09/2015. The "Just2Trade" trademark is owned by LimeTrading (CY) Ltd.
Registration Number: HE 341520
Address: Lime Trading (CY) Ltd
Magnum Business Center, Office 4B, Spyrou Kyprianou Avenue 78
Limassol 3076, Cyprus
Disclaimer:
All promotions, materials and information of this website may have applied conditions. Please contact the Company for further details
Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services..