CNR posts Q1 profits of £1.1bn, expects to generate ‘significant’ cash flow in 2021
- Date: 06-May-2021
- Source: Energy Voice
- Sector:Financial Markets
- Country:Middle East
CNR posts Q1 profits of £1.1bn, expects to generate ‘significant’ cash flow in 2021
Canadian Natural Resources (CNR) made a strong financial start to the year despite the “daily challenge” of maintaining operations amid the pandemic.
The company, which operates 65 wells across the central and northern North Sea, posted pre-tax profits for the first quarter of 2021 of CAD $1.6 billion (£939k), compared to losses of £1.4bn (£822k) in the first three months of 2020.
And its bosses are hopeful of generating further “significant” free cash flow in the months ahead.
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