Tax cuts, price and production gains fuel robust Canadian earnings

Canadian oil and gas firms announced robust year-on-year second quarter and first half earnings, primarily the upshot of strong natural gas prices and increased production volumes. Also contributing to earnings was a reduction in Alberta and Ontario provincial tax rates enacted during the second quarter.A sampling of earnings comparisons shows earnings increases of 46% in the second quarter and 68% in the first half compared with the same periods a year ago (see table).All results are in Canadian dollars, and all firms cited here are headquartered in Calgary unless otherwise noted.Company results Click here to enlarge imagePanCanadian Petroleum Ltd. reported second quarter net earnings o...

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