Husky Energy Q4 profit up
Husky Energy Inc (HSE.TO), Canada’s No.3 integrated oil producer and controlled by Hong Kong billionaire Li Ka-shing,reported its fourth-quarter profit rose as oil prices strengthened.
The press release is quoted as saying:
Husky reported net income of C$320 million, or $0.38 Canadian cents per share, up from C$231 million, or $0.27 Canadian cents, a year earlier. Cash flow, an indicator of the company’s ability to fund new projects, nearly doubled to C$657 million, or C$0.77 per share. Husky, known for its extensive Canadian heavy oil holdings, offshore oil projects and refinery interests in Ohio, said last month that it and partner BP Plc (BP.L) were ready to go ahead with the first 60,000 barrel per day phase of their Sunshine oil sands project at a cost of C$2.5 billion.
Click here to access the entire press release
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Fri, Feb 5, 2010
Post by Melissa Pistilli, Heavy Oil Senior Reporter