Canadian Natural Resources: 2012 Q2 Profits Drops 19%

Fox Business reported that Canadian Natural Resources’ (TSE:CNQ) 2012 second quarter profits dropped 19% owing to lower oil and natural gas prices.

As quoted in the market news:

Canada’s second-largest independent oil and gas company also cut its planned capital expenditures for 2012 by 10%, or 680 million Canadian dollars (US$686 million), reallocated spending toward heavy oil from natural gas, and slightly increased its annual production guidance.

Click here to read the full Fox Business report.