Posted AT 8:21 AM EST on 24/07/08
Petro-Canada profit climbs 77 per cent
Second-quarter profit at Petro-Canada shot 77-per-cent higher and beat market expectations due largely to higher oil prices, the country's No. 4 oil producer and refiner said Thursday.
Petro-Canada, which is nearing completion of a $2.2-billion Alberta refinery conversion project, said profit rose to $1.5-billion, or $3.10 a share, from a year-earlier profit of $845-million, or $2.38 a share.
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