Aug 7 (Reuters) - Canadian Natural Resources ( CNQ )
surpassed Wall Street expectations for second-quarter profit on
Thursday, benefiting from higher oil and natural gas production.
Oil producers in the country have been benefiting from the
start up of the Trans Mountain pipeline expansion (TMX) project.
The TMX has nearly tripled the flow of oil to Canada's
Pacific Coast from the landlocked Alberta, raised the price of
Canadian crude and opened up market access to refineries in Asia
and the U.S. West Coast.
Calgary, Alberta-based Canadian Natural said its total
output rose to 1.42 million barrels of oil equivalent per day
(boepd) during the second quarter, from 1.29 million boepd a
year earlier.
The country's largest oil and gas producer posted an
adjusted profit of 71 Canadian cents per share for the three
months ended June 30, compared with analysts' average estimate
of 65 Canadian cents, according to data compiled by LSEG.