- Location
- The Conservative part of Ontario
Well, the oil companies are not making any money :roll: 
http://www.cbc.ca/story/business/national/2005/10/27/petrocan-051027.html
Petro-Canada earnings up on higher fuel prices
Last Updated Thu, 27 Oct 2005 16:11:15 EDT
CBC News
Higher fuel prices helped Petro-Canada's earnings jump in the third quarter.
The company said it made $614 million ($1.19 a share), up from $410 million (77 cents a share) a year earlier.
The Calgary-based oil and gas company (TSX
CA) said its cash flow rose to $1.06 billion from $869 million year-over-year.
"The excellent business environment and solid operations resulted in strong earnings and cash flow this quarter," said Ron Brenneman, Petro-Canada's president and chief executive officer. "With our upstream turnarounds largely complete, full-year production is anticipated to come in on guidance."
The company said its production of crude oil, natural gas liquids and natural gas averaged 422,000 barrels of oil equivalent per day during the quarter, compared to 435,700 boe per day in the same quarter of 2004. The company said its production guidance for the full year remains at between 415,000 and 430,000 boe per day.
Petro-Canada gained 63 cents to end at $41.23 on the TSX.
http://www.cbc.ca/story/business/national/2005/10/27/petrocan-051027.html
Petro-Canada earnings up on higher fuel prices
Last Updated Thu, 27 Oct 2005 16:11:15 EDT
CBC News
Higher fuel prices helped Petro-Canada's earnings jump in the third quarter.
The company said it made $614 million ($1.19 a share), up from $410 million (77 cents a share) a year earlier.
The Calgary-based oil and gas company (TSX
CA) said its cash flow rose to $1.06 billion from $869 million year-over-year."The excellent business environment and solid operations resulted in strong earnings and cash flow this quarter," said Ron Brenneman, Petro-Canada's president and chief executive officer. "With our upstream turnarounds largely complete, full-year production is anticipated to come in on guidance."
The company said its production of crude oil, natural gas liquids and natural gas averaged 422,000 barrels of oil equivalent per day during the quarter, compared to 435,700 boe per day in the same quarter of 2004. The company said its production guidance for the full year remains at between 415,000 and 430,000 boe per day.
Petro-Canada gained 63 cents to end at $41.23 on the TSX.
