Lower prices bring mixed results for Canadian companies

02/25/2002
Lower oil and gas prices caused weaker year-on-year results for a sampling of Canadian producers, while earnings for other firms in Canada's petroleum industry fared much better during the fourth quarter.Comparing earnings for the group shows a drop of more than 50% in the fourth quarter but a gain of 1% year-on-year for 2001. Revenues fell 18% during the quarter but were up 10% for the year compared with 2000. Click here to enlarge imageAll results reported are in Canadian dollars.Company resultsImperial Oil Ltd., Toronto, and Nexen Inc., Calgary, announced lower earnings for the fourth quarter and for 2001. These earnings were measured against high benchmarks, though, as year-ago r...
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