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Canadian Oil Sands Profit Hit by Crude Price Gap

(Canadian Press)

Canadian Oil Sands Ltd., which owns the biggest piece of the massive Syncrude oil sands mine in northern Alberta, posted a dip in fourth-quarter profits as its crude fetched a lower price.

The Calgary-based company says net income was $221-million, down from $232-million a year earlier.

The earnings amounted to 46 cents a share, down from 48 cents per share a year earlier and missing the average analyst estimate of 50 cents per share, according to Thomson Reuters.