Canadian Natural Resources reports $987M Q1 profit, down from $1.8B a year ago

Canadian Natural Resources Ltd. reported its first-quarter profit fell compared with a year ago as it realized lower prices for synthetic crude oil and natural gas. The company says it earned $987 million or 91 cents per diluted share for the quarter ended March 31. The result was down from a profit of $1.80 billion or $1.62 per diluted share a year earlier. Product sales totalled $9.42 billion, down from $9.55 billion in the first quarter of 2023. Production in the quarter averaged 1,333,502 ba