CANADIAN COMPANIES CUT COSTS AS PROFITS PLUNGE

Restructuring moves are helping turn financial results around in the gloomy Canadian oil and gas scene. Canadian energy companies that have put noncore assets into separate management units have sharply cut overhead costs, a Calgary analyst says. Overall, however, financial results for Canadian petroleum companies were depressed in 1991, says Canada's Department of Energy. Sayer Securities Ltd. said a study of 16 Canadian petroleum firms showed overhead costs were 40% lower for separately

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