Nexen’s first quarter earnings went down 15% this year.
Unplanned maintenance at Syncrude, as well as problems in the Middle East, led to a 13% drop in production to 202 thousand barrels per day.
Profits were 38 cents a share, well below the market estimate of 51 cents.
But the company says it’s on track to meet its targets for the second quarter and the full year, and to increase production in 2013.
Published April 25, 2012
