Canadian Natural Resources Ltd.’s profits took a hit in the fourth quarter of 2022 as extreme winter weather forced the oilsands giant to reduce production.
The Calgary-based company reported Thursday that it earned $1.52 billion or $1.36 per diluted share for the quarter ended Dec. 31, down from $2.53 billion or $2.14 per diluted share in the last three months of 2021.
CNRL’s production in the quarter averaged 1,294,679 barrels of oil equivalent per day, down from 1,313,900 in the same quarter a year earlier.Story continues below advertisement
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