Canadian independent producer Nexen reported lower earnings and production volumes for the second quarter of 2009 but said ongoing development projects should give a significant boost to its output by the end of this year. Net income for the second quarter came in at C$20 million (US$18 million) or C4￠/share. That was down 95% from yearearlier levels of C$380 million (C70￠/share) and 85% from the preceding quarter. Second-quarter revenues slid 39% to C$1.28 billion.
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