Husky Energy Q4 profit up

email Email  Print Print  
Fri, Feb 5, 2010
Heavy Oil Company News
Post by Melissa Pistilli, Heavy Oil Reporter

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

Questions about this article? Leave a comment below or contact our editorial team at editor@resourceinvestingnews.com.

Leave a Comment

What is Heavy Oil Investing News' Comment Policy?
Heavy Oil Investing News pre-moderates comments on our blog posts and post-moderates comments on news stories. We never censor comments based on political or ideological point of view. We only delete those comments that include the following transgressions:

  • Are abusive, off-topic, use excessive foul language
  • Include ad hominem attacks including comments that celebrate the death or illness of any person, public figure or otherwise
  • Contain racist, sexist, homophobic and other slurs
  • Are solicitations and/or advertising for personal blogs and websites
  • Thread spamming (you've posted this same comment elsewhere on the site)
  • Are posted with the explicit intention of provoking other commenters or the staff at Heavy Oil Investing News
  • Contains content that may infringe the copyright or intellectual property rights of others or other applicable laws or regulations.
Asides