May 9, 2019 / 9:46 AM / 13 days ago

Canadian Natural Resources profit surges 65 percent

May 9 (Reuters) - Oil and gas producer Canadian Natural Resources Ltd reported a 65 percent rise in quarterly profit on Thursday, boosted by higher prices for Canada’s heavy crude on the back of Alberta’s output cuts.

Net earnings rose to C$961 million ($712.86 million), or 80 Canadian cents per share, in the first quarter ended March 31, from C$583 million, or 48 Canadian cents, a year earlier.

The company said daily production fell 8 percent to 1.04 million barrels of oil equivalent per day. ($1 = 1.3481 Canadian dollars) (Reporting by Debroop Roy in Bengaluru; Editing by Shounak Dasgupta)

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