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Husky Energy Inc’s loss narrows as cost cuts cushion oil crash

Husky Energy Inc had said in December that it was looking to sell the assets, to strengthen its balance sheet and meet debt obligations.

Husky Energy Inc, Canada’s No. 3 integrated oil company, posted a smaller-than-expected quarterly loss as cost cuts help cushion the impact from slumping crude oil prices.

The company posted a loss of revenue of $69 million, or 9 cents per share, for the fourth quarter, compared with a loss of revenue of $603 million, or 65 cents per share, last year.

The year-ago quarter included a non-cash control of $622 million related to the impairment of certain mature assets.

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