CANADIAN COMPANIES AIM TO TRIM COSTS, DEBT

Major Canadian companies are pressing their cost cutting and debt reduction efforts because of persistently weak oil prices. Imperial Oil Ltd., Toronto, is studying ways to cut operating costs in its Calgary resource division by 25%. The company is profitable overall. Shell Canada Ltd., Gulf Canada Resources Ltd., and Husky Oil Ltd., all of Calgary, also have disclosed plans to study costs or cut spending on various programs.

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