_News Talk 770
For the second straight day, second quarter numbers from Calgary based energy giants show reduced earnings.
Today it's Imperial Oil's turn. The company says its Q-2 profits are down 13% to $635 million. The company cites lower commodity prices and higher planned maintenance. $7.5 billion in revenues was lower than the same 3 months last year, but ahead of the 6 point 2 billion expected by analysts.
Yesterday Cenovus, and Suncor said profits were down about 40% while Encana posted a nearly 1.5 billion dollar loss for the quarter.