October 24, 2019 / 11:09 AM / a month ago

Husky Energy profit halves on lower refining margins

Oct 24 (Reuters) - Husky Energy Inc reported a 50% drop in quarterly profit on Thursday, as the company’s refining margins came under pressure from higher Canadian crude prices fueled by Alberta’s mandatory production curbs.

Net earnings fell to C$273 million ($208.76 million), or 26 Canadian cents per share, in the third quarter ended Sept. 30, from C$545 million, or 53 Canadian cents per share, a year earlier.

The Calgary-based company’s average quarterly production fell to 294,800 barrels of oil equivalents a day (boepd) from 296,700 boepd. ($1 = 1.3077 Canadian dollars) (Reporting by Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila)

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