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US, Canadian firms post weak 4Q 2009, annual results

03/08/2010
By Marilyn Radler and Laura Bell
For some oil and natural gas producers, fourth-quarter 2009 earnings improved from a bleak quarter a year earlier, but feeble demand for products hurt refining and marketing results.Annual results for 2009 reveal that lower oil and gas prices and lower demand for energy products in light of weakness among the world's developed economies created challenges for most companies.OGJ looked at the fourth-quarter 2009 and full-year 2009 results of three samples of companies and found that with one exception, each of the groups—US-based operators, Canadian producers and pipeline firms, and service and supply companies—collectively posted weaker earnings reports from a year earlier.The...
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