VANCOUVER, July 29 (Reuters) - Suncor Energy Inc SU.TO ,
Canada's largest oil and gas company, reported a drop in
second-quarter operating earnings on Wednesday, as lower crude
prices outweighed increased production.
The Calgary-based energy producer's operating profit, which
excludes one-time items, fell to C$906 million, or 63 Canadian
cents per share, from C$1.14 billion, or 77 Canadian cents per
share, in the year-ago period.
Suncor's net profit was C$729 million, or 50 Canadian cents
per share. That compared with a profit of C$211 million, or 14
Canadians cents per share, in the second quarter of 2014, when
the company was hit with impairment charges related to its
Joslyn project and other assets.