Nexen’s fourth quarter profits fell in 2011 thanks to lower production and extra expenses.
The company says it had to spent 190 million dollars to change its upgraders at the Long Lake oil sands project.
Total profits ended up at 43 million dollars.
The company’s shares are down more than 20 percent over the past year, and its CEO resigned last month after three years in charge.
The interim CEO says the company would consider selling its stake in Syncrude if it needed the cash.
Published February 16, 2012