Canadian oil sands profits up 63%

CALGARY — Annual profits at Canadian Oil Sands Trust jumped 63 per cent to $831 million and cash flow topped the $1 billion mark, the big oil sands operator reported Wednesday.

Meanwhile, the owner of the biggest chunk of the Syncrude oil sands joint venture in northern Alberta announced its second straight quarter of doubled cash distributions worth $1 per unit thanks to record oil prices.

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