Turnaround has doubters

Canadian oil patch posts big first-quarter profits, tight balance sheets touted

Gary Park

for Petroleum News

There’s been a rebound in the Canadian petroleum industry, with six of the top shelf producers posting combined profits of C$3.2 billion in the first quarter against a flow of red ink totaling C$9.7 billion a year earlier. Canadian Natural Resources reported net earnings of C$1.38 billion (versus a....

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The cautious approach

Subsidy benefits not clear