CNRL reports earnings of $1.72B in 2nd quarter

Canadian Natural Resources Ltd. says earnings were up in the second quarter in part because of higher oil sales and prices.

The Calgary-based oil and gas producer says earnings were $1.72 billion for the quarter ending June 30, up from $1.46 billion for the same quarter last year.

Earnings worked out to 80 cents per diluted share, up from 66 cents last year.

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Adjusted net earnings from operations were $1.89 billion, up from $1.26 billion last year.

The company says production volumes in the quarter were 1.29 million barrels of oil equivalent per day, up eight per cent from the same quarter last year.

Revenue was $9.05 billion for the quarter, up from $7.89 billion for the same quarter last year.

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