Thursday, July 26, 2007

UPDATE 1-Petro-Canada profit up 79 pct on strong production

(Reuters) - Canada's No. 4 integrated oil exploration and refining
firm, said net earnings from continuing operations were C$845
million , or C$1.71 a share for the period
ended June 30, up from C$472 million, or 93 Canadian cents a
share, a year-earlier, when results were burnished by C$57
million in one-time items.




The company last month announced plans to spend C$14.4
billion on a new oil sands plant in northern Alberta producing
140,000 barrels a day while the current quarter includes new
oil from its stake in the North Sea's Buzzard field.


Read more at Reuters.com Market News

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