Weak demand reduces Canadian firms' first quarter earnings

Earnings for Canadian oil and gas companies were weak in the first quarter, largely the result of lower oil and gas prices. Downstream earnings were impaired by mostly weak refining margins caused by depressed demand for products and a narrower light-to-heavy crude oil differential. It was not until the end of the quarter that commodity prices firmed and refining margins began to recover.Of the 14 Canadian companies in OGJ's sample, only 4 had greater earnings than a year earlier. None of these were purely exploration and production companies.Collective net income declined 58%, and revenues were off 28% from a year ago. Click here to enlarge imageAll results reported are in Canadian ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected